Manufacturing Index Accelerated in December

The ISM Manufacturing Index registered 59.7 points in December, up 1.5 percentage points from the previous month, according to the Institute for Supply Management. December’s reading indicates the sixteenth consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. Of the eighteen manufacturing industries, sixteen reported growth, while two reported contraction. Eight of the ten index components grew, while the inventories and customers’ inventories indexes both contracted.

The Employment Index declined 2.7 points to 57.0 in December, indicating expansion for the fifteenth consecutive month. Eleven industries reported expansion, while two reported a decrease in employment.

The New Orders Index increased 5.4 points to 69.4 in December, indicating growth for the fifteenth consecutive month. Fifteen industries reported expansion, while only one reported a decrease in employment.

Export orders grew 2.5 points to 58.5, indicating growth for the twenty-second consecutive month. Ten industries reported growth while one of the eighteen reported a decrease in new export orders.

The inventories index registered 48 points, up 1.5 points from the previous month. Ten industries reported higher inventories, while seven reported a decrease.

Read the ISM release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
More from Stephen Newton >