December PMI Down 5 Points
By Metal Center News Staff
on Jan 3, 2019
Economic activity in the manufacturing sector expanded in December, and the overall economy grew for the 116th consecutive month, according to the latest Manufacturing Report On Business from the Institute for Supply Management, Tempe, Ariz.
The PMI for November was 54.1 percent, a decrease of 5.2 percentage points from November.
Of the 18 manufacturing industries, 11 reported growth in December, including machinery, transportation equipment, miscellaneous manufacturing, electrical equipment, appliances and components, and primary metals. Fabricated metal products was among the six industries reporting contraction in December.
Among other indices, the New Orders Index decreased 11 percentage points to 51.1 percent, the Production Index dropped 6.3 percentage points to 54.3 percent and the Employment Index decreased 2.2 percentage points to 58.4 percent.