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US manufacturing down to an 11 month low in Dec: Markit

by ChemOrbis Editorial Team -
  • 17/12/2014 (17:36)
According to a preliminary Purchasing Managers’ Index (PMI) released by Markit Economics, US manufacturing hit the lowest level in eleven month in December. The country’s PMI decreased to a seasonally adjusted reading of 53.7 in December from a reading of 54.8 in November. Any reading above 50 indicates expansion. Initial estimates called for a reading of 55.2 in a survey conducted by Reuters.

The slowdown in the December output figure was attributed to a slower pace of job growth as Markit’s employment subindex softened from 55.1 to 52.8. The figure was the lowest level recorded since July, although it was also the 18th consecutive month of rising employment.
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