Published: 2023-12-15T14:57:18.000Z
US December S&P PMIs - Manufacturing slips, Services improved, both subdued
Senior Economist , North America
-
December’s S and P PMIs show manufacturing slipping to a 4-month low but services increasing to a 5-month high, though the picture remains quite subdued overall.
Manufacturing slipped to 48.2 from 49.4, extending slippage from October which reached a neutral level of 50, outperforming the ISM manufacturing index and most other manufacturing surveys.
The S and P services index is not well correlated with its ISM counterpart. The latest index at 51.3 from 50.8 is a third straight improvement from September which fell to a near neutral 50.1. The index remains quite subdued, below levels seen from March through July.