The flash reading of the IHS Markit manufacturing purchasing managers index fell in December to a two-month low of 45.9, while the services PMI edged up to a 4-month high of 52.4 from 51.9. Any reading below 50 indicates contracting conditions. Economists polled by FactSet expected a 47.3 reading for manufacturing and a 52 reading for services. IHS Markit said it was the worst quarter since the economy pulled out of its downturn in the second half of 2013.
Dec. 16, 2019, 4:04 a.m. EST