Manufacturing in the U.S. showed continued weakness in December, the Institute for Supply Management reported, as sputtering global economies continued to weigh on the sector while lower oil prices dampened investment in the oil and gas business. ISM’s monthly purchasing manager’s index registered 48.2, down 0.4% from November’s 48.6.
Of the 18 manufacturing industries surveyed, six reported growth in December.
While still in contraction territory, new orders and production showed slight gains, bringing them near the breakeven point. However, the employment index continued to worsen, from 51.3 in November to 48.1 in December.
Inventories showed a slight improvement, up half a percent to 43.5, but analysts said they reflected continued uncertainty about the outlook for the economy.
