Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

U.S. factory activity growth slips to 11-month low in December: Markit

Published 01/02/2015, 09:48 AM
Updated 01/02/2015, 09:50 AM
© Reuters. Ford Assembly workers install a battery onto the chassis of a Ford Focus Electric vehicle at the Michigan Assembly Plant in Wayne

© Reuters. Ford Assembly workers install a battery onto the chassis of a Ford Focus Electric vehicle at the Michigan Assembly Plant in Wayne

NEW YORK, (Reuters) - The U.S. manufacturing sector slowed in December to its lowest rate of growth since last January, and a gauge of employment sentiment fell, an industry report said on Friday.

Financial data firm Markit said its final U.S. Manufacturing Purchasing Managers Index fell to 53.9 in December from November's final reading of 54.8. The preliminary December read for the index was 53.7.

A reading above 50 indicates expansion in economic activity. Chris Williamson, chief economist at Markit, noted that factories had their best year since the recession, even as the outlook for 2015 is now a bit clouded.

"Companies are citing greater uncertainty about the outlook, especially in export markets, leading to some scaling back of expansion plans and a greater reluctance for customers to place orders compared to earlier in the year, which suggests a slowdown could become more entrenched unless demand revives," he said in a statement.

The survey's output index fell to 54.7, a low not seen since last January, from 55.6 in November. The employment index declined to 53, the lowest since July, from 55.1 in November.

© Reuters. Ford Assembly workers install a battery onto the chassis of a Ford Focus Electric vehicle at the Michigan Assembly Plant in Wayne

New orders showed a modest improvement in sentiment, Markit said.

(Reporting By David Gaffen; Editing by Meredith Mazzilli)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.