Markit: US economy loses momentum in December

NEW YORK (Dow Jones) – Activity in the US economy slowed in December. The composite index collected by IHS Markit for production in the private sector – industry and service providers together – fell to 56.9 from 57.2 points in the previous month. The economic barometer signals growth above 50 points, and a shrinking economy below 50.

The purchasing managers’ index for manufacturing fell to 57.8 from 58.3 points in the previous month. Economists had expected a level of 58.6. The index for the service sector fell to 57.5 from 58.0 points. Here the forecast was 58.2.

“The survey data paints the picture of an economy showing an encouraging resilience to rising virus infection rates and concerns about the omicron variant,” said IHS Markit chief economist Chris Williamson.


Contact the author: [email protected]


(END) Dow Jones Newswires

December 16, 2021 10:09 ET (15:09 GMT)

Leave A Comment