By Xavier Fontdegloria The U.S. manufacturing sector contracted in December at the steepest pace since the onset of the Covid-19 pandemic as demand remained...
The U.S. manufacturing sector contracted in December at the steepest pace since the onset of the Covid-19 pandemic as demand remained subdued and production weakened, data from a purchasing managers survey showed Tuesday.
The index suggests factory activity shrank in December for a second consecutive month as any reading below 50.0 indicates contraction. "The manufacturing sector posted a weak performance as 2022 was brought to a close," said Sian Jones, senior economist at S&P Global.
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