The Institute for Supply Management (ISM) reported Wednesday that its Purchasing Managers' Index (PMI) registered 50.7 percent in December, an increase of 1.2 percentage points from November's reading of 49.5 percent, indicating expansion in manufacturing for only the third time in the last seven months.
The New Orders index remained at 50.3 percent, the same rate as in November, indicating growth in new orders for the fourth consecutive month. The Production index registered 52.6 percent, a decrease of 1.1 percentage points, indicating growth in production for the third consecutive month. The Employment index registered 52.7 percent, an increase of 4.3 percentage points, indicating a resumption of growth in employment following only one month of contraction since September 2009.
Both the Exports and Imports indexes registered 51.5 percent, returning both indexes to growth territory following consecutive periods of contraction of six and four months, respectively.
