Manufacturing expanded in December
Economic activity in the manufacturing sector expanded in December, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
The December PMI registered 54.7 percent, an increase of 1.5 percentage points from the November reading of 53.2 percent. The New Orders Index registered 60.2 percent, an increase of 7.2 percentage points from the November reading of 53 percent. The Production Index registered 60.3 percent, 4.3 percentage points higher than the November reading of 56 percent.
"The PMI, New Orders, Production and Employment Indexes all registered new highs for the year 2016, and the forward-looking comments from the panel are largely positive,” said Bradley J. Holcomb, chair of the Institute for Supply Management Manufacturing Business Survey Committee.