US manufacturing PMI falls to 4-month low

By Ovunc Kutlu

ISTANBUL (AA) - The US manufacturing PMI fell in December to its lowest level in four months, S&P Global said Friday.

The manufacturing purchasing managers' index (PMI), which measures the activity of managers in the manufacturing sector, shed 1.2 points to 48.2 in November, down from 49.4 in October, according to flash figures by the financial services company.

The expectation for manufacturing PMI was to come in at 49.3.

A reading below 50 represents contraction, while above 50 indicates expansion in the sector.

"December saw a renewed upturn in hiring among firms, as employment grew at the fastest pace in three months," the firm said in a report.

"The fall in manufacturing output was only slight but stemmed from a quicker drop in new orders," it added.