The Electrical Equipment, Appliances & Components segment of the United States manufacturing industry showed contraction in December 2012, according to the latest Manufacturing ISM Report On Business.
For manufacturing overall, which includes the Appliance segment and 17 other manufacturing industry segments, economic activity expanded in December. The report also showed that the overall economy grew for the 43rd consecutive month.
"The PMI registered 50.7%, an increase of 1.2 percentage points from November's reading of 49.5%, indicating expansion in manufacturing for only the third time in the last seven months," said Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management Manufacturing Business Survey Committee. "This month's PMI reading moved manufacturing off its low point for 2012 in November."
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