U.S. PMI Hits a 7 Month High at at 54

“NOTE: The PMI was initially reported as 54.2.  However, the number has since been corrected to 54.0.

The December reading of the US purchasing managers index is out, and the number looks good.

PMI jumped to 54.0 from 52.8 in November.  This is also better than economists’ expectation calling for  53.6.

Any reading above 50 signals expansion in the industry.

Here are key points from Markit:

• Strongest rate of output growth since May
• Total new work increases at solid rate, with new export orders also rising
• Input price inflation remains marked, albeit weaker than in November

From Markit’s Chief Economist Chris Williamson: ”

Read more