PMI rises sharply in December
A PMI over 50 signals expansion in the manufacturing sector.
Among the PMI sub-indices, the new orders index rose from the previous month and remained over the 50-point mark.
The production volume index also climbed and was over 50.
The employment index indicated growth for the fifteenth month in a row.
Delivery times were shorter in December but the sub-index is still under 50.
The gauge of purchased inventories rose and was above the 50-point mark, signalling a sustained recovery.