Mumbai, Jan. 6 -- A report released by the Institute for Supply Management on Monday showed its reading on U.S. manufacturing activity unexpectedly decreased in the month of December.
The ISM said its manufacturing PMI edged down to 47.9 in December after slipping to 48.2 in November, with a reading below 50 indicating contraction.
With the unexpected dip, the manufacturing PMI dropped to its lowest reading of 2025.
The slight decrease by the headline index partly reflected a notable decline by the inventories index, which slumped to 45.2 in December from 48.9 in November.
The production index also slipped to 51.0 in December from 51.4 in November, although the reading above 50 still indicates growth.
Meanwhile, the ISM said the new or...