Key Insights
- Manufacturing PMI decreased from 49.4 in November to 47.9 in December.
- The manufacturing sector remains under pressure as client demand is weak.
- Supply exceeds demand for many goods.
On January 2, S&P Global released the final reading of Manufacturing PMI report for December. The report indicated that Manufacturing PMI declined from 49.4 in November to 47.9 in December, compared to analyst consensus of 48.2. Numbers below 50 show contraction.
The report showed that inflationary pressures intensified as cost burdens increased and selling prices rose at the quickest rate since April. According to S&P Global, supply exceeds demand for many goods, which points to downside risks to the manufacturing sector.
S&P Global commented:…
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