USA: Manufacturing activity at a 11-month low in December

Manufacturing activity in the United States slowed in December, while corporate wages fell sharply after jumping in recent months in a sign that inflationary pressures may be easing.

In particular, the index for manufacturing activity at the national level fell to 58.7 points last month from 61.1 in November, according to data released today by the Institute for Supply Management (ISM). This is the lowest measurement since January 2021.

It is noted that the average estimates of analysts in a Reuters poll placed the index at 60.1 points.

The measurement for the prices paid by the manufacturing companies dropped to 68.2 points last month, at the lowest level since November 2020, from 82.4 in November. The drop is the biggest since March 2020, when businesses were forced to close to slow the first wave of infections.

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Source From: Capital

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