US manufacturing activity slows to 11-month low in December

    "Former Hamilton Manufacturing Company- Two Rivers, WI" by MichaelSteeber is licensed under CC BY-SA 2.0

    WASHINGTON (AP) — Growth in U.S. manufacturing slowed in December to an 11-month low as companies continued to combat supply chain problems.

    The Institute for Supply Management, a trade group of purchasing managers, reported Tuesday that its index of manufacturing activity fell to a reading of 58.7 in December, 2.4 percentage points below the November reading of 61.1.

    Any reading above 50 indicates growth in the manufacturing sector which has recorded 19 straight months of growth going back to the spring of 2020 when the pandemic hit.

    The December reading was the lowest since a matching 58.7 in January 2021.

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