US Factory Output Slows to January Low

December 16, 2014 Share Print 0

The U.S. manufacturing sector continued to expand in December but its growth rate hit an 11-month low, an industry report showed on Tuesday.

Financial data firm Markit said its preliminary or “flash” U.S. Manufacturing Purchasing Managers Index fell to 53.7 in December, matching the 2014 January low when severe weather impacted economic activity.

Economists polled by Reuters had expected the December reading at 55.2, which compares to November’s 54.8 final reading.

A reading above 50 signals expansion in economic activity.

The December output subindex fell to 54.7, also the lowest since January, from last month’s 55.6 final reading.

The employment subindex dipped to 52.8 from 55.1. It was the lowest since July but also the 18th straight month of readings indicating growth in jobs.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.