US: Markit Manufacturing PMI drops to 15-month low in December, 53.8

"The seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index posted 53.8 in December, down from 55.3 in November," the IHS Markit reported today and added: "The headline PMI dipped to a 15-month low amid a weaker rise in new business and the joint-softest expansion in output since September 2017." 

Key takeaways from the press release

• Production growth remained solid in December, and at a rate that matched that seen in November.
• Following a slight pick up in November, new order growth eased in December.
• The degree of optimism was strong, but well below the long-run series average. 
• Despite a moderate rise in backlogs in December, the rate of job creation softened to an 18-month low. 
• Rates of both input price and output charge inflation eased in December.