Markit December final US manufacturing PMI 57.7 vs 57.8 prelim

• Prelim was 57.8
• Prior was 58.3

Siân Jones, Senior Economist at IHS Markit said:

“December saw another subdued increase in US manufacturing
output as material shortages and supplier delays dragged on.
Although some reprieve was seen as supply chains deteriorated
to the smallest extent since May, the impact of substantially
longer lead times for inputs thwarted firms’ ability to produce
finished goods yet again.

“Adding to the sector’s challenges was an ebb in client demand
from the highs seen earlier in 2021, with new orders rising at
the slowest pace for a year, largely linked to a reluctance at
customers to place orders before inventories were worked
through. Alongside a slight pick-up in hiring, softer demand
conditions contributed to the slowest rise in backlogs of work for
ten months.

“While shortages remained significant, the end of the year
brought with it some signs that cost pressures have eased. The
uptick in input prices was the slowest for six months, and firms
recorded softer increases in selling prices amid efforts to entice
customer spending.”