US manufacturing PMI falls in December flash reading

A flash reading of S&P Global's US manufacturing PMI fell to 48.2 in December, the lowest level seen in four months, compared to 49.4 in November and forecasts of 49.3.

Meanwhile, the services PMI rose to 51.3 in December, up from 50.8 in the previous month and beating expectations for a reading of 50.8 to extend the period of resilience of the US services sector to restrictive interest rates from the Federal Reserve.

Meanwhile, the composite PMI rose to 51.0 in December, up from November's 50.7 print to mark the private sector's third-straight month of growth and the fastest pace in five months.

Reporting by Iain Gilbert at Sharecast.com