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ShreeMetalPrices: ISM reports contraction in the US Manufacturing PMI to 48.4 in December.

ISM-reports-contraction-in-the-US-manufacturing-PMI-to-48.4-in-Dec
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The manufacturing sector in the United States had a downturn in activity for the second consecutive month in Dec, with the Institute for Supply Management’s ISM Manufacturing PMI falling to 48.4 versus 49 in Nov.

This was the first time since May 2020 that the gauge dipped below the 50-point threshold, which denotes contraction. And this figure came in slightly underneath the market consensus of 48.5.

More information about the release showed that the Employment Index rose to 51.4 from 48.4 and also the Prices Paid Index decreased to 39.4 from 43.

“Manufacturing declined once more in Dec after rising for 29 straight months,” stated Timothy R. Fiore, Chairperson of Institute for Supply Management, in response to the survey’s conclusions.

The employers of the panelist persist to exercise careful hiring management. Since March 2009, the supplier shipments’ month-over-month performance was at its peak, Fiore continued.

As the industry closes the year, controlling manpower and overall supply chain inventory remained at top priorities. As we start the first quarter, the demand will receive more focus in order to secure order books for the coming six to twelve months.

With the first response, the US Dollar Index moved upward. It was last noted down 0.45% during the day at 104.21.

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