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Economic activity contracted slightly for members of the Industrial Supply Association in December, according to the latest monthly Economic Indicators Report from the ISA. At 49.5 percent, the ISA Manufacturers Index fell below 50 for the first time in 2012, while the distributor index fell to 50.5 percent from 57.9 percent the previous month.
For each index, a reading above 50 percent indicates expansion, while a reading below 50 percent indicates contraction.
Both numbers are comparable to the Institute for Supply Management's PMI of 50.7 for the month of December.
"The December report demonstrates the continued sluggishness of the economy and its impact on ISA members," said John Buckley, ISA executive vice president. "Much of the decline is likely seasonal in nature, reflecting a traditional slowdown as a result of the holiday season."
Access the complete report at isapartners.org.