US ISM Manufacturing PMI for December 49.3 vs 48.4 estimate

January 03, 2025 at 03:00PM

Prior month 48.4

PMI manufacturing index register the price level since March 2024.

Manufacturing PMI: December: 49.3, November: 48.4 (+0.9) – HIGHER

New Orders: December: 52.5, November: 50.4 (+2.1) – HIGHER

Production: December: 50.3, November: 46.8 (+3.5) – HIGHER

Employment: December: 45.3, November: 48.1 (-2.8) – LOWER

Supplier Deliveries: December: 50.1, November: 48.7 (+1.4) – HIGHER

Inventories: December: 48.4, November: 48.1 (+0.3) – HIGHER

Customers’ Inventories: December: 46.7, November: 48.4 (-1.7) – LOWER

Prices: December: 52.5, November: 50.3 (+2.2) – HIGHER

Backlog of Orders: December: 45.9, November: 41.8 (+4.1) – HIGHER

New Export Orders: December: 50.0, November: 48.7 (+1.3) – HIGHER

Imports: December: 49.7, November: 47.6 (+2.1) – HIGHER

WHAT RESPONDENTS ARE SAYING

“Slightly lower due to seasonality and end-of-year destocking.” [Chemical Products]

“Automotive and powersport volume decreases.” [Transportation Equipment]

“We are seeing a softening in sales. This is concerning as it’s our peak season.” [Food, Beverage & Tobacco Products]

“We are constrained by technical labor, despite higher-than-normal backlog.” [Computer & Electronic Products]

“Significant slowdown in production requirements in the last two months of the year.” [Machinery]

“Order levels well below forecast projections.” [Fabricated Metal Products]

“The increase in new orders has our plant at full capacity.” [Electrical Equipment, Appliances & Components]

“Combo of seasonal factors plus increased demand outlook for 2025.” [Miscellaneous Manufacturing]

“There is definitely an uptick this month, though not a stable one.” [Primary Metals]

“The orders have increased slightly due to seasonal restocking.” [Plastics & Rubber Products]

Just ahead of the release:

2- year yield 4.241%, -0.7 basis points

10 year 4.551%, -2.4 basis points

S&P index +0.58%

NASDAQ index +1.03%

Looking at the market three minutes after the release, the Dow industrial average is up 0.22%. The S&P is up 0.53% and the NASDAQ index is currently at 0.91%.

Looking at US yields:

2 year yield is up to 4.257%, +1.0 basis points

10 year yield 4.573%, -0.2 basis points.

This article was written by Greg Michalowski at www.forexlive.com.

US ISM Manufacturing PMI for December 49.3 vs 48.4 estimate