US Manufacturing Ends 2023 on a Low Note, December PMI at 47.9, Highlighting Contraction, Inflation, and Job Cuts

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US Manufacturing Sector Slump Accelerates In December: Orders Down, Prices Up

See also  December PCE shows persistent inflation rise, highest since April 2024.

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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