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LONDON - Global manufacturing activity fell sharply in December to a near 4 1/2 year low as the United States factory sector contracted, an indicator based on national surveys of manufacturers showed yesterday.
The JP Morgan Global Manufacturing PMI slipped to 51.4 in December from 52.2 in November. But while growth slowed, input prices faced by factories rose to a six-month high.
The global input prices index edged up to 67.2 in December from 67.0 the previous month, with inflation the fastest since June in the US.
Earlier yesterday the US ISM Manufacturing index for December sank to its lowest level since April 2003 at 47.7 from 50.8, sending the dollar lower and US Treasury debt prices up. Below 50 indicates contraction in the sector.
Still, hiring picked up last month. The employment index touched 50.9, up on the 50.5 seen in November.
The index combines data from countries including the US, Japan, Germany, France, Britain, China and Russia.
- Reuters
