Indicating a notable slowdown in the pace of growth in U.S. manufacturing activity in the month of December, the Institute for Supply Management released a report on Thursday showing a much bigger than expected drop by its index of activity in the manufacturing sector.
The ISM said its purchasing managers index tumbled to 54.1 in December after rising to 59.3 in November, slumping its lowest level since hitting 53.4 in November of 2016.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.