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Manufacturers continue to hire more employees, contributing to the nation’s job growth. According to the BLS: “Manufacturing added 32,000 jobs in December. Most of the gain occurred in the durable goods
component (+19,000), with job growth in fabricated metal products (+7,000) and in computer and electronic products (+4,000). Employment in the nondurable goods component also increased over the month (+13,000). Manufacturing employment increased by 284,000 over the year, with about three-fourths of the gain in durable goods industries. Manufacturing had added 207,000 jobs in 2017.”
However, leading indicators on manufacturing have become somewhat less encouraging as of late. According to the Institute for Supply Management, the U.S. manufacturing PMI declined from 59.3 in November to 54.1 in December as new orders dropped from 62.1 in November to 51.1 last month. The drop in U.S. manufacturing PMI came on top of disappointing Chinese PMI numbers earlier in the week.
Here’s what some of the ISM survey respondents had to say:
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