US manufacturing grew again in December with exports and imports growing a bit more slowly

January 5, 2021 – According to the nation’s supply executives in the latest Institute of Supply Management (ISM) Report On Business, economic activity in the manufacturing sector grew in December, with the overall economy notching an eighth consecutive month of growth.

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ISM’s new export orders grew 57.5 percent in December, a slight decrease of a 0.3 percentage point compared to the November reading of 57.8 percent. New export orders grew for the sixth consecutive month, but at a slightly slower rate. Any reading of 50 or more indicates growth.

ISM’s imports registered 54.6 percent in December, a decline of a 0.5 percentage point compared to the 55.1 percent reported for November. Nonetheless, imports expanded for the sixth consecutive month, reflecting continued increases in US factory demand.

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