U.S. Manufacturing Sector Registers Seventh Straight Month of Growth
Jan. 5, 2021
According to a December report, manufacturing rose 3.2 percentage points over November's numbers.
Economic activity within the U.S. manufacturing sector continued to grow for the seventh straight month in December. That's according to a release for the Institute for Supply Management (ISM)'s December PMI report.
Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management Manufacturing Business Survey Committee reported that the December Manufacturing PMI registered 60.7%, putting it at 3.2 percentage points above November's reading of 57.5%.
Despite an increase of 5.9 percentage points, December's delivery performance of suppliers to manufacturing organizations was slower in December.
Per the report, suppliers continue to struggle to deliver, with deliveries slowing at a faster rate compared to November. Transportation challenges and challenges in supplier-labor markets are still constraining production growth.
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