Manufacturing economic activity contracted again in December, according to the latest Manufacturing ISM® Business report®. This is the 14th consecutive month of negative growth. Manufacturing PMI® The audience rating for the same month was 47.4%, an increase of 0.7 points from November.
Timothy R. Fiore, CPSM, CPM, Chairman, Supply Management Institute® (ISM®) The Manufacturing Industry Investigation Committee stated that companies continue to manage production appropriately as orders continue to weaken. “Demand remains soft and production execution remains stable compared to November as panelist companies continue to manage output, material inputs and labor costs.”
The food, beverage and tobacco industry remained strong in December, with no growth or contraction reported. The industry reported an increase in production for the month, along with job losses, supplier delivery delays and lower inventories.
One industry respondent said, “Costs of goods are coming down. Supply is readily available and customers are still ordering to last year’s quantities.”
