- The Manufacturing Purchasing Managers Index (PMI) captures business conditions in the manufacturing sector.
- Readings above 50 imply the economy is expanding while readings below 50 imply economic contraction.
- Manufacturing PMI increased to 60.7 in December from 57.5 in November.
- The 3.2 gain exceeded the consensus among economists of a 0.9 decline.
- This figure is the highest of the year and indicates expansion in the overall economy for the eighth month in a row.