Manufacturing Activity Grew Into 2017
Economic activity in the manufacturing sector expanded in December 2016, and the overall economy grew for the 91st consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
This is the report tracked by economists to determine how things are going in America’s manufacturing sector.
Manufacturing expanded in December as the PMI (Purchasing Managers Index) registered 54.7 percent, an increase of 1.5 percentage points from the November reading of 53.2 percent, indicating growth in manufacturing for the fourth consecutive month and a new high reading for the year.
A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
A PMI above 43.2 percent, over a period of time, generally indicates an expansion of the overall economy.
Therefore, the December PMI indicates growth for the 91st consecutive month in the overall economy, and indicates growth in the manufacturing sector for the fourth consecutive month.
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