US ISM: Price pressures still extraordinarily high, but lower in December – Wells Fargo By MSalordFX Manufacturing UnitedStates Banks
rimary drivers of the 2.4 point decline in the ISM manufacturing index to 58.7 in December”, explained analysts at Wells Fargo. “The drop in December's ISM manufacturing index to 58.7 from 61.1 in November masks what we see as a still strong demand environment in the factory sector.
“The biggest message from today's report is that the prices paid component plunged 14.2 points in December. Not only was that the largest drop of any sub-component, it also marks the biggest monthly drop in the prices paid measure in over a decade. Make no mistake, at 68.2 prices are still rising, but it is no longer the scorching hot 82.4 reading seen in November.”
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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