Highest growth rate since August 2018
In the midst of the corona crisis, US industry has surprisingly increased its high rate of growth. The purchasing manager index rose from 57.5 points in November to 60.7 points in December, according to a company survey published by the Institute for Supply Management (ISM) on Tuesday. This is the fastest growth rate since August 2018.
Experts, however, had expected a decrease to 56.6 points. With a value well over 50 points, the barometer signals strong growth.
“Despite the still very tense corona situation in the country, the US industry accelerated its growth path towards the end of 2020”, stated LBBW chief economist Uwe Burkert. The hope that the vaccination campaign will soon have relief effects, together with the second fiscal package adopted at the end of December and the demand from Asia, keep the mood high. “In itself, this offers good prospects for a dynamic upswing in the new year.”
