In December, the Institute for Supply Management’s manufacturing index fell 3.2 points compared to November to 55.5. The new orders subindex decreased 8.7 points but still remained solidly in expansionary territory at 57.3. The production subindex fell 5.6 points compared to November but, like new orders, still pointed to continued increase in activity with a reading of 58.8. The employment subindex indicated manufacturing employment growth for the 18th consecutive month and increased 1.9 points compared to the previous month. The prices paid subindex fell 6.0 points to 38.5, its lowest reading since June 2012, suggesting that input price pressures are decreasing.
