For the 15th month in a row, ISM Manufacturing survey signaled no expansion (print over 50) in December.
While the 47.4 print is up from November's 46.7 (and better than the 47.1 expected), it is still a contractionary signal
Source: Bloomberg
“Companies are still managing outputs appropriately as order softness continues," said Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management Manufacturing Business Survey Committee:.
"Demand eased, with the (1) New Orders Index contracting at a faster rate, (2) New Export Orders Index essentially flat, and (3) Backlog of Orders Index climbing back above 40 percent but still in fairly strong contraction territory."
Source: Bloomberg
None of the six biggest manufacturing industries registered growth in December.
