The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) for December 2024 was 49.4, down 0.3 points from November and remaining just below the 50 no-change point for the sixth month. Manufacturers reported declines in new orders and output but anticipate higher demand in 2025.
The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times, and stocks of raw materials. A reading above 50 indicates growth, while below represents a contraction. See S&P Global
