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Ismreport

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business-and-economy2 years ago•23 min saved

"December 2023 ISM Report: Services Sector Growth Slows, Employment Hits Multi-Year Low"

The December 2023 Services ISM® Report On Business® revealed that the Services PMI® stood at 50.6%, indicating expansion in the services sector for the 12th consecutive month, albeit at a slower pace than in November. The Business Activity Index increased to 56.6%, while the New Orders Index decreased to 52.8%. The Employment Index showed contraction at 43.3%, and the Supplier Deliveries Index indicated faster deliveries at 49.5%. The report suggests overall growth in the services sector, with nine industries reporting growth, but there are concerns about economic uncertainty and labor constraints.

via PR Newswire|

##business-and-economy #businessindex

business-and-economy2 years ago•27 min saved

"U.S. Manufacturing Slump Persists in December Despite Hopes of Revival"

The December 2023 Manufacturing ISM® Report On Business® indicates that the U.S. manufacturing sector contracted for the 14th consecutive month, with the Manufacturing PMI® at 47.4%, slightly up from November's 46.7%. Key findings show new orders and backlogs contracting, while production slightly expanded. Employment contracted, supplier deliveries were faster, and raw materials inventories shrank. Customers' inventories were reported as too low, and both prices and exports and imports were decreasing. The only industry reporting growth was Primary Metals, with 16 others contracting. The overall economy continued to contract for the third month, suggesting a cautious outlook for manufacturing heading into 2024.

via PR Newswire|

##business-and-economy #economiccontraction