US ISM Manufacturing PMI rose from 46.7 to 47.4 in December, above expectation of 47.1. That’s still the 14th month of contraction reading.
Looking at some details, new orders, fell from 48.3 to 47.1, the 16th month of contraction. Production rose from 48.5 to 50.3. Employment rose from 45.8 to 48.1. Prices fell sharply from 49.9 to 45.2.
December PMI reading of 47.4 corresponds to an estimated decrease of -0.5% in the real GDP on an annualized basis.
