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- U.S. manufacturing activity grows slightly more than initially estimated in December - HIS Markit
U.S. manufacturing activity grows slightly more than initially estimated in December - HIS Markit
The latest
report by IHS Markit revealed on Monday the seasonally adjusted IHS Markit
final U.S. Manufacturing Purchasing Managers’ Index(PMI) rose to 57.1 in
December, up from 56.7 in November and slightly up from the earlier released
“flash” reading of 56.5. The December reading pointed to the sharpest expansion
in factory activity since September 2014.
Economists had
forecast the index to stay unrevised at 56.5.
According to
the report, the headline figure was pushed higher by severe supply chain
disruption in December, which are limiting production capabilities as well as
driving producers’ input prices sharply higher. Meanwhile, production and order
books continued to grow, albeit with the rates of expansion slowing as a result
of rising virus case numbers and related restrictions.
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