Manufacturing Sector Weakness

January 08, 2024

The ISM Manufacturing Purchasing Managers’ Index improved in December, rising to 47.4 from 46.7 month-over-month.  The index beat market forecasts but remains below 50.  Analysts consider an index below 50 to represent economic contraction. S&P Global Market Intelligence reports that factories are cutting back on purchasing and that a slowdown is spreading to the labor market.