US manufacturing slows to six-month low in Dec
The ISM’s manufacturing index dropped to a reading of 55.5 in December compared with a reading of 58.7 in November to post the lowest reading in the last six months. Initial estimates called for a reading of 57.5 in a survey conducted by Bloomberg. Analysts commented that the slower pace of growth seen in December is likely to prove more manageable going forward when compared with the figures seen in the previous few months. ISM’s manufacturing index hit a three year high in October. Any reading above 50 indicates an expansion.
ISM’s gauge of orders decreased to a reading of 55.8 from a reading of 66 in November while a measure of production declined to 58.8 from a reading of 64.4 in the prior month. ISM’s export index was also down to a reading of 52 from a reading of 55 in November, posting the biggest monthly decline in 2014.
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