U.S. December ISM Manufacturing PMI 49.3, slightly higher

US December ISM Manufacturing PMI 49.3, vs. 48.4 expected, 48.4 previous, rose for the second consecutive month in December last year, with both orders and production picking up, suggesting that the clouds hanging over the manufacturing sector may be starting to dissipate. According to the output gauge, a rebound in demand helped deliver the first monthly increase in production since May. At the same time, the survey suggested that more producers are laying off workers at a faster pace. the employment index fell to 45.3 in December, a drop of nearly 3 points, the most since July last year. The rest of the five indicators that make up the overall PMI index improved. Timothy Fiore, chairman of the ISM Manufacturing Business Survey Committee, said: “Demand is improving, production is executing at the level of November's performance as well as firms' targets; layoffs are continuing but should end soon, and price growth is minimal.”