Following weak manufacturing data from Russia, China, and India, the Institute for Supply Management announced that US manufacturing measured by its PMI dropped sharply in December to 32.4 from 36.2 in November.
New orders dropped more sharply to 22.7, down 5.2 points.
The weakest sectors included textiles, paper products, transportation equipment, computer products, and chemical.
Only a few commodities rose in price–aluminum, copper, and steel.
The organization’s comments on employment were depressing. "ISM’s Employment Index registered 29.9 percent in December, which is a decrease of 4.3 percentage points when compared to the 34.2 percent reported in November. This is the lowest reading for the Employment Index since November 1982 when the index registered 28.2 percent."
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
