Investing.com – Manufacturing activity in the U.S. rose less-than-expected in December, industry data showed on Monday.
In a report, the Institute for Supply Management said its index of purchasing managers rose to 57.0 in December, after falling to 56.6 in November.
Analysts had expected the ISM index of purchasing managers to rise to 57.3 in December.
On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.
According to the data, the level of the PMI has remained above the neutral 50.0 mark for 17 consecutive months.
The report also showed that the ISM index of manufacturing prices rose more-than-expected in December, increasing to 72.5, after falling to 69.5 in November.
Analysts had expected the ISM index of manufacturing prices to increase to 71.9 in December.
Norbert J. Ore, chair of the ISM Manufacturing Business Survey Committee said, “We saw significant recovery for much of the U.S. manufacturing sector in 2010. The recovery centered on strength in autos, metals, food, machinery, computers and electronics, while those industries tied primarily to housing continue to struggle.”
Following the release of the data, the U.S. dollar was down up the euro, with EUR/USD shedding 0.58% to hit 1.3310.
Meanwhile, U.S. equity markets posted sharp gains: the Dow Jones Industrial Average jumped 0.89%; the S&P 500 index surged 1.03%, while the Nasdaq Composite index rallied 1.78%.
In a report, the Institute for Supply Management said its index of purchasing managers rose to 57.0 in December, after falling to 56.6 in November.
Analysts had expected the ISM index of purchasing managers to rise to 57.3 in December.
On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.
According to the data, the level of the PMI has remained above the neutral 50.0 mark for 17 consecutive months.
The report also showed that the ISM index of manufacturing prices rose more-than-expected in December, increasing to 72.5, after falling to 69.5 in November.
Analysts had expected the ISM index of manufacturing prices to increase to 71.9 in December.
Norbert J. Ore, chair of the ISM Manufacturing Business Survey Committee said, “We saw significant recovery for much of the U.S. manufacturing sector in 2010. The recovery centered on strength in autos, metals, food, machinery, computers and electronics, while those industries tied primarily to housing continue to struggle.”
Following the release of the data, the U.S. dollar was down up the euro, with EUR/USD shedding 0.58% to hit 1.3310.
Meanwhile, U.S. equity markets posted sharp gains: the Dow Jones Industrial Average jumped 0.89%; the S&P 500 index surged 1.03%, while the Nasdaq Composite index rallied 1.78%.