The manufacturing Purchasing Managers' Index, or PMI, rose to 51.7 in December. Any reading above 50 indicates expansion in the sector. New orders increased for the first time since September. New work rose in December, while output contracted for the second straight month. Employment decreased in December and suppliers' delivery time lengthened. Backlogs of work rose for the third month in a row. Stocks of inputs expanded at the fastest rate in the twenty-two years survey history.
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