Markit Manufacturing PMI rises to 57.1 points in December, the highest level since September 2014

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  • Markit’s US manufacturing PMI rose to a multi-year high in December.
  • The US Dollar DXY Index remains in negative territory below 90.00.

Economic Activity in the US Manufacturing Sector expanded at its strongest pace since September 2014 in December, with the IHS Markit Manufacturing PMI rising to 57.1 points from 56.7 in November. This reading was also better than the preliminary estimate of 56.5.

Additional details from the release showed that the final product index fell to 58.3 from 59.2 and the final product price index rose to its highest level since May 2011 at 58.6.

Commenting on the data, “manufacturers reported a strong ending to 2020, with production and order books continuing to grow, although expansion rates slowed as a result of the increasing number of coronavirus cases and related restrictions, “said Chris Williamson, chief business economist at IHS Markit.

Machinery and equipment producers reported strong sustained demand, suggesting that companies are increasing their investment spending“Williamson added.

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