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Manufacturing Growth Slows in December

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The manufacturing sector experienced slowing growth, according to the December 2021 Report on Business from the Institute for Supply Management. The PMI for December was 58.7 percent, down 2.4 percentage points from the prior month. The manufacturing sector has grown for the past 19 months.

Among other indices, the New Orders Index declined 1.1 percentage points to 60.4 percent; the Production Index registered 59.2 percent, a decrease of 2.3 percent; and the Prices Index was down 14.2 percentage points to 68.2 percent. The Employment Index was up 0.9 percentage points to 54.2 percent.

All of the six biggest manufacturing industries, including fabricated metal products, registered moderate-to-strong growth in December.

“The U.S. manufacturing sector remains in a demand-driven, supply chain-constrained environment, with indications of improvements in labor resources and supplier delivery performance. Shortages of critical lowest-tier materials, high commodity prices and difficulties in transporting products continue to plague reliable consumption,” said Timothy Fiore, chair of the ISM’s Manufacturing Business Survey Committee.

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