US Manufacturing saw only two months in 2023 that were not in contraction and ended on a decidedly poor note with the final December print dropping to 47.9 (from 48.2 flash and 49.4 prior).
Source: Bloomberg
Across the board it was ugly with:
-
Renewed contraction in output as orders fall at sharper pace
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Rates of inflation pick up
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Joint-fastest drop in employment since June 2020
Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, said:
Not exactly the 'goldilocks' soft-landing every one is hoping for.
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