US Manufacturing Finishes 2024 in Prolonged Slump, Survey Finds

‘U.S. manufacturing activity contracted again in December, but at a slower rate compared to November,’ says ISM survey chief.

A worker at Pioneer Pipe, which supplies products to the oil and gas industry, in Marietta, Ohio, on Oct. 25, 2016. Spencer Platt/Getty Images

The U.S. manufacturing sector finished 2024 in a prolonged slump as prices accelerated and employment cooled.

A new survey by the Institute for Supply Management (ISM) found that its manufacturing purchasing managers’ index (PMI) increased to a nine-month high of 49.3 in December, up from 48.4 in November.