The ISM Manufacturing Report on Business PMI decreased to 58.7 in December from 61.1 in November, according to the Institute for Supply Management. In December, the U.S. manufacturing sector remained in a demand-driven, supply chain-constrained environment, but there were indications of improvements in labor resources and supplier-delivery performance, said Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee. The supplier deliveries index fell to 64.9 from 72.2, the backlog of orders index remained at a high 62.8. The inventories index edged down to 54.7 from 56.8, the data showed. Lead times are shrinking slowly, and inventories are growing," said one of the respondents from the fabricated metal products sector.

Source: Wall Street Journal January 08, 2022 07:54 UTC