U.S. Manufacturing Activity Expands in December

Manufacturing activity in the United States expanded at its highest pace in more than six years during December, as shown by the IHS Markit’s manufacturing purchasing managers index (PMI) on Monday.

The manufacturing sector’s PMI rose to 57.1 in December from 56.7 in November.

Moreover, the index flash reading for mid-December recorded 56.5.

This means that the index has finished last year at its highest level since September 2014.

December marked the eighth consecutive month of expanding after falling to its lowest level in more than a decade in April after the outbreak of the Coronavirus.

Meanwhile, the output index recorded 58.3 in December from 59.2 in November.