Flash U.S. manufacturing PMI slumps to 13-month low in December

18-December-2018

The flash reading of U.S. manufacturing purchasing managers index fell to a 13-month low of 53.9 in December from 55.3 in November, IHS Markit reported Friday, mainly on a decline from new orders and employment.

The flash reading of U.S. services PMI fell to an 11-month low of 53.4 in December from 54.7 in November, also after a decline in new business.

Any reading above 50 indicates improving conditions.

“Some survey respondents reported that heightened economic uncertainty and concerns about the nearterm business outlook had contributed to more cautious spending among clients,” said IHS Markit.

The flash estimate is typically based on approximately 85%-90% of total PMI survey responses each month and is designed to provide an accurate advance indication of the final PMI data.

Source: MARKETWATCH