As the overall economy grew for the 103rd consecutive month, US manufacturing expanded at the fastest pace in three months. The 2017 average of the survey-based index was 57.6 – the best in 13 years.
A reading above 50 indicates expansion, while a reading below 50 indicates contraction.
Of the 18 manufacturing industries, 16 reported growth in December, with the three leading being machinery, computer & electronics products, and paper products. The two industries that reported contraction during December were wood products and textile mills.