U.S. manufacturing PMI contracts for the second month

S&P Global reported that the final U.S. manufacturing purchasing managers’ index fell to 46.2 in December from 47.7 in November.

The index remained below the 50 mark, indicating a contraction in the U.S. manufacturing activity. It was the second consecutive month of decline.

The PMI was weighed down by a decline in new orders, while employment slowed and business sentiment, while rising to its highest level in three months, was still weighed down by concerns about inflation and consumer demand.

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