Manufacturing in this country suffered something of a setback to close 2019, after a brief recovery from the low point seen in the
middle of 2019.
Information reported Thursday morning by IHS Markt showed the Manufacturing Purchasing Managers Index (PMI) featured near-stagnation
of production volumes and a renewed downturn in order books during the latest survey period.
At 50.4 in December, down from 51.4 in the previous month, the headline seasonally adjusted PMI signaled the weakest overall manufacturing performance since August. The latest reading was only fractionally above the crucial 50.0 no-change mark.
Manufacturers also indicated more cautious staff hiring strategies and efforts to tighten inventory management, which partly reflected concerns about the near-term business outlook. The latest survey meanwhile signaled the lowest degree of confidence about year-ahead.
Sub-sector data from the PMI indicated that robust growth in consumer goods offset a sustained downturn among investment goods producers.
Meanwhile, the intermediate goods category continued to register a steady but relatively subdued growth trajectory.
