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Manufacturing index slips, but reading still second-highest for year

January 02 2014

The Institute for Supply Management’s purchasing managers index for U.S. manufacturing edged down to a reading of 57.0 in December, still its second-highest reading for 2013. The reading indicates continued expansion, although at a slower pace than indicated by November’s reading of 57.3. Readings above 50 indicate growth.

However, the employment portion of the index edged up to a reading of 56.9 in December from November’s reading of 56.5, indicating a faster rate of employment growth. December’s employment reading is the highest since June 2011.

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