US manufacturing growth slows to 11-month low in December

ANKARA

US manufacturing growth in December slowed to its lowest level in 11 months, according to a report by the Institute for Supply Management (ISM) released on Tuesday.

The ISM manufacturing purchasing managers' index (PMI) fell to 58.7 last month, its lowest since January 2021.

The latest reading is a decline of 2.4 percentage points from the November PMI figure of 61.1.

While a reading above 50 indicates growth in the manufacturing sector, a level below 50 shows contraction.