US manufacturing slowed in December amid reduced demand for goods, but supply constraints are starting to ease and a measure of prices paid for inputs had its biggest drop since early 2020, when the pandemic hit activity. economic.
The Institute for Supply Management (ISM) reported on Tuesday (4) that its national index of manufacturing activity dropped to a reading of 58.7 last month. It was the lowest result since last January, after 61.1 in November.
Readings above 50 indicate expansion of manufacturing, which accounts for 11.9% of the US economy. Economists consulted by Reuters they expected the index to fall to 60.1.
The ISM measure of supplier deliveries fell to 64.9 from 72.2 in November. Reading above 50% indicates slower deliveries to factories.
Initial signs of improvement in supply chains suggest that factory gate inflation may soon begin to ease.
The measure of prices paid by the industry fell to 68.2 last month, the lowest level since November 2020, from 82.4 last November.
The drop was the biggest since March 2020, when mandatory closures of non-essential utilities were adopted to stem the first wave of coronavirus infections.
Reference: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
