US Manufacturing Growth Slows in December

2026-01-02 14:54 By Joana Ferreira 1 min. read

The S&P Global US Manufacturing PMI was confirmed at 51.8 in December 2025, down from 52.2 in November, marking the weakest expansion in the current five-month growth phase.

New orders declined for the first time in a year, while exports fell for a seventh consecutive month, weighed down by tariffs and trade frictions.

Output growth also moderated, even as firms continued to build inventories for a fifth straight month, though at a slower pace than November’s record accumulation.

Employment rose solidly as manufacturers filled vacancies in anticipation of stronger conditions in 2026.

On the price front, input cost inflation eased to an 11-month low but remained historically elevated, while selling price increases slowed to their weakest pace since early 2025, still running above long-term norms.

Overall business confidence deteriorated, reflecting softer order inflows and persistent uncertainty surrounding tariffs and trade policy.



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