Last updateWed, 30 Sep 2020 2pm

Manufacturing & The Economy

ISM: U.S. Manufacturing Sector Strongest Since 2004

Manufacturing expanded in December as the PMI registered 59.7%, an increase of 1.5% from the November reading of 58.2%. “This indicates growth in manufacturing for the 16th consecutive month, led by strong expansion in new orders and production with hiring growing at a slower rate and supplier deliveries continuing to struggle,” says ISM Manufacturing Business Survey Committee Chair Tim Fiore.

“The past relationship between the PMI and the overall economy indicates that the average PMI for January through December (57.6%) corresponds to a 4.5% increase in real GDP on an annualized basis.” 

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