Purchasing Managers' Index Hit 10-Year Low in November
Tempe, AZ, January 3, 2020-The December Purchasing Managers’ Index (PMI) registered 47.2%, a decrease of 0.9 percentage point from the November reading of 48.1%, according to the latest Manufacturing ISM Report On Business. This is the PMI's lowest reading since June 2009, when it registered 46.3%.
The New Orders Index registered 46.8%, a decrease of 0.4 percentage point from the November reading of 47.2%.
The Production Index registered 43.2%, down 5.9 percentage points compared to the November reading of 49.1%.
The Backlog of Orders Index registered 43.3%, up 0.3 percentage point compared to the November reading of 43%.
The Employment Index registered 45.1%, a 1.5-percentage point decrease from the November reading of 46.6%.
The Supplier Deliveries Index registered 54.6%, a 2.6-percentage point increase from the November reading of 52%.
The Inventories Index registered 46.5%, an increase of one percentage point from the November reading of 45.5%.
The Prices Index registered 51.7%, a 5-percentage point increase from the November reading of 46.7%.
The New Export Orders Index registered 47.3%, a 0.6-percentage point decrease from the November reading of 47.9%.
The Imports Index registered 48.8%, a 0.5-percentage point increase from the November reading of 48.3%.
Of the 18 manufacturing industries, three reported growth in December: food, beverage & tobacco products; miscellaneous manufacturing; and computer & electronic products. The 15 industries reporting contraction in December-listed in order-are apparel, leather & allied products; wood products; printing & related support activities; furniture & related products; transportation equipment; nonmetallic mineral products; paper products; fabricated metal products; petroleum & coal products; electrical equipment, appliances & components; textile mills; primary metals; chemical products; plastics & rubber products; and machinery.