US manufacturing PMI falls to 47.9 in December

S&P Global's manufacturing PMI fell to 47.9 points in December, down from 49.40 in November and a preliminary reading of 48.2, indicating that manufacturing conditions had deteriorated further last month.

Output returned to a decline and the downturn in new orders gathered pace, selling prices increased at the quickest rate since April, and muted client demand led to a third successive monthly drop in employment.

Business confidence, on the other hand, rose to a three-month high.

The manufacturing PMI hit an all-time high of 63.4 in July 2021, while its record low of 36.1 points was recorded in April 2020.

Reporting by Iain Gilbert at Sharecast.com