Manufacturing output finished 2024 with another month of contraction, according to the new edition of the Manufacturing Report on Business, which was issued today by the Institute for Supply Management (ISM).
The report’s benchmark reading, the PMI, at 49.3 (a reading of 50 or higher indicates growth), rose 0.9% over November’s 49.3, with the PMI contracting for the ninth consecutive month and the 25th time in the last 26 months. It also noted that the overall economy has expanded, at a faster rate, for the last 56 months, since contracting in April 2020.
The December PMI is 1% above the 12-month average of 48.3, with March’s 50.3 and October’s 46.5 readings marking the lowest and highest readings, respectively, over that period.
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Jeff Berman, Group News Editor
Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. Contact Jeff Berman
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