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US manufacturing Purchasing Managers Index falls in December

US manufacturing Purchasing Managers Index falls in December
Inflationary pressures continued to mount, with companies facing ever increasing input prices, data provider says

By Ovunc Kutlu

ANKARA (AA) - The US Manufacturing Purchasing Managers Index (PMI) fell in December, London-based global data provider IHS Markit said Thursday.

The index, which measures the activity level of purchasing managers in the manufacturing sector, fell 0.5 from the previous month to 57.8 in December. The November figure was 58.3.

The markets expected 58.5 in December.

A reading above 50 indicates expansion and below 50 shows contraction.

"Inflationary pressures continued to mount, with firms facing ever increasing input prices," IHS Markit said in a statement.

Services PMI also declined by 0.5 points to 57.5 in December, down slightly from 58.0 in November. The expectation was 58.5.

"Employment growth slowed to the softest for three months in December, as pressure on capacity remained substantial," the statement said.

Composite PMI came in at 56.9 in December, down 0.3 points from 57.2 in November.

source: News Feed
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