Manufacturing activity in December increased for the seventh consecutive month and the overall economy grew for the 55^th straight month, according to the Institute for Supply Management’s (ISM) Report on Business. ISM’s report registered the PMI at 57% in December, dipping from 57.3% in November. The Production Index lost 0.6 of a point to 62.2% and the New Orders Index increased 0.6 of a point to 64.2%. The Prices Index gained 1 point to 53.5%.

Of the 18 industries measured by the ISM, 13 reported growth, including: furniture, paper products and wood products. ISM's report includes indicators for backlog of orders, employment, prices Index, new export orders and imports. See Institute for Supply Management