ISM Manufacturing Gauge Misses Forecast, Job Openings Decline

ISM Manufacturing Gauge Misses Forecast

The ISM Manufacturing Index for December fell to 48.4, missing expectations of 49.0. This marks the third consecutive month of contraction, indicating a slowdown in the manufacturing sector as demand weakens amid economic uncertainties.

Job Openings Decline

Job openings decreased to 10.46 million in November, down from 10.51 million in October. This decline suggests a cooling labor market, as employers are becoming more cautious in hiring amid rising interest rates and inflation concerns.

Consumer Confidence Edges Up

Consumer confidence rose slightly in December, with the Conference Board’s index increasing to 108.3, up from 101.4 in November. This improvement indicates a more optimistic outlook among consumers, despite ongoing economic challenges.

Inflation Rate Stabilizes

The inflation rate held steady at 3.7% in November, with core inflation showing minimal change. Analysts suggest this stability indicates that inflationary pressures may be easing, allowing for potential adjustments in monetary policy moving forward.