Investing.com - Manufacturing activity in the U.S. expanded in line with expectations in December, holding near the fastest rate since April 2011, industry data showed on Thursday.
In a report, the Institute for Supply Management said its index of purchasing managers dipped to 57.0 last month from a reading of 57.3 in November.
On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.
The New Orders Index increased in December by 0.6 points to 64.2, the highest since April 2010. The Employment Index registered 56.9, an increase of 0.4 points compared to November's reading of 56.5. December's employment reading is the highest since June 2011 when the Employment Index registered 59.0.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.84% to trade at 1.3646.
Meanwhile, U.S. equity markets were lower after the open. The Dow Jones Industrial Average dipped 0.5%, the S&P 500 index fell 0.55%, while the Nasdaq Composite index dropped 0.9%.
In a report, the Institute for Supply Management said its index of purchasing managers dipped to 57.0 last month from a reading of 57.3 in November.
On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.
The New Orders Index increased in December by 0.6 points to 64.2, the highest since April 2010. The Employment Index registered 56.9, an increase of 0.4 points compared to November's reading of 56.5. December's employment reading is the highest since June 2011 when the Employment Index registered 59.0.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.84% to trade at 1.3646.
Meanwhile, U.S. equity markets were lower after the open. The Dow Jones Industrial Average dipped 0.5%, the S&P 500 index fell 0.55%, while the Nasdaq Composite index dropped 0.9%.