Steel Products
ISM Manufacturing PMI rises to 50.7 for December
Written by Sandy Williams
January 4, 2013
The Institute for Supply Management increased its manufacturing purchasing managers’ index to 50.7 in December from 49.5 in November. A rating above 50 indicates an expansion in activity. The ISM uptick comes in tandem with Markit data, also released on Wednesday, that put the Markit US PMI rating at 54.0 in December—a jump from 52.8 in November.
The ISM reported new orders unchanged at 50.3 from November but still in a growth trend.
Production dropped 1.1 percent in December to 52.6 from November’s rating of 53.7, indicating growth for the third month in a row, although somewhat slower. The employment index was at 52.7 from 48.4 in November. Manufacturers’ inventories decreased from 45.0 in November to 43.0 in December while customer inventories grew 4.5 percent from 42.5 in November to 47.0 in December. Prices are on a 5 month trend of growth increasing 3 percent to 55.5 in December.
Exports and imports both show growth at 51.5, up from 47.0 and 48.0 in November, respectively.
“The election is over; unemployment is dropping; consumer confidence is increasing as are home sales prices. We seem to be turning the corner. New car sales are increasing, which affects our customers.” said a survey respondent from the fabricated metal products industry in ISM’s press release.
The average ISM PMI rating for the last 2012 months was 51.7, with a high of 54.8 in April and a low of 49.5 in June. A PMI that remains over 42.6 for a period of time indicates a general expansion of the overall economy, thus, December was the 43rd consecutive month of growth.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/sandy-williams.jpeg)
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/10/CMC-New-Logo.png)
CMC to open rebar fabrication facility in Ohio
Longs producer and metal recycler CMC plans to open a new rebar fabrication plant in Akron, Ohio.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/steel_trade.png)
US and Mexico take action to curb ‘unfair’ trade
The US and Mexico announced measures on Wednesday to prevent tariff evasion and protect North America’s steel and aluminum industries.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/gears.png)
Final thoughts
First off, we hope everyone had a safe and happy July 4th holiday, with fireworks seen and BBQs attended. Many parts of the country are quite toasty at the moment, signaling that, yes, summer has indeed arrived. And looking at our most recent survey results, the summer doldrums have arrived as well.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/12/Rig_count_pic_3-scaled.jpg)
Active rig counts recover in US, slip in Canada
US drill rig activity moved back up last week after drifting lower for four straight weeks. Meanwhile, Canadian counts slipped for the first time after a seven-week rally, according to the latest data from Baker Hughes.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/AISI.png)
AISI: US steel shipments up in May from April, off from 2023
Domestic steel shipments increased in May month over month but have fallen on-year.