NEW – U.S. manufacturing performance slipped further into "contraction territory" in December as demand conditions weakened. pic.twitter.com/S18SRkzlmg
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US Manufacturing Sector Slump Accelerates In December: Orders Down, Prices Up
US Manufacturing saw only two months in 2023 that were not in contraction and ended on a decidedly poor note with the final December print dropping to 47.9 (from 48.2 flash and 49.4 prior).
Source: Bloomberg
Across the board it was ugly with:
- Renewed contraction in output as orders fall at sharper pace
- Rates of inflation pick up
- Joint-fastest drop in employment since June 2020
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