U.S. December PMI Data Shows Mixed Economic Signals

According to Odaily, the preliminary data for the United States' December Purchasing Managers' Index (PMI) reveals mixed economic signals across various sectors. The S&P Global Services PMI recorded a preliminary value of 58.5, surpassing the expected 55.7 and the previous month's figure of 56.1. This indicates a stronger-than-anticipated performance in the services sector, suggesting robust growth and expansion as the year comes to a close. In contrast, the manufacturing sector showed signs of contraction. The S&P Global Manufacturing PMI for December posted a preliminary value of 48.3, falling short of the anticipated 49.8 and the prior month's 49.7. A PMI reading below 50 typically indicates a contraction in the sector, highlighting challenges faced by manufacturers amid ongoing economic uncertainties. The overall economic activity, as measured by the S&P Global Composite PMI, which combines both the services and manufacturing sectors, stood at a preliminary value of 56.6. This figure exceeded the expected 55.1 and the previous month's 54.9, reflecting a generally positive outlook for the U.S. economy despite the manufacturing sector's struggles. These PMI figures provide insights into the economic health and business conditions in the United States as the year concludes.