US DATA: Dec mfg ISM text: “PMI registered 53.9, an increase of 1.2
ppts from Nov’s reading of 52.7, indicating expansion in the
manufacturing sector for the 29th consecutive month. The New Orders
Index increased 0.9 percentage point from November to 57.6 percent,
reflecting the third consecutive month of growth after three months of
contraction. Prices of raw materials continued to decrease for the third
consecutive month, with the Prices Index registering 47.5 percent, which
is 2.5 percentage points higher than the November reading of 45 percent.
Manufacturing is finishing out the year on a positive note, with new
orders, production and employment all growing in December at faster
rates than in November, and with an optimistic view toward the beginning
of 2012 as reflected by the panel in this month’s survey.” 9 of 18
industries gained. WHAT RESPONDENTS ARE SAYING: Slow Q4 – lots of
destocking and inventory reduction going on.” (Chemical Products)
“Business seems strong, but likely due to tax advantages of purchasing
capital expense items.” (Machinery) “Our business is stable.” (Mfg)