Summary
- The U.S. December ISM manufacturing PMI was 47.9, falling short of both market expectations and the previous month's figure.
- The ISM manufacturing PMI is interpreted as a signal of economic contraction when below 50.
- Investors should pay attention to signs of weakness in the manufacturing sector.
The U.S. December ISM manufacturing purchasing managers' index (PMI) fell short of expectations.
According to the manufacturing PMI report released by the U.S. Institute for Supply Management (ISM) on the 5th (local time), the U.S. November manufacturing PMI was 47.9, below both the expected value (48.3) and the previous month's figure (48.2).
The ISM conducts a monthly survey of 400 companies across 20 industry sectors to assess manufacturing conditions and calculate the PMI. A reading above 50 indicates more respondents expect economic expansion, while a reading below 50 indicates more expect economic contraction.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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