However, orders ended the year with strong momentum.
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Inventories felll again in December amid strong sales, government data showed.
The report showed a second consecutive monthly decrease, 0.9% in December and 0.8% in November, for new orders.
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As the Trump administration's tariffs against key trading partners are sure to remain fluid, prominent industry associations and trade groups shared statements emphasizing concern over business impacts.
Government data showed an increase in December, following a flat November.
It’s the PMI’s first time above 50.0% since October 2022, signaling manufacturing momentum in early 2025.
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Fourth quarter increases in consumer and government spending were partially offset by decrease in investment and imports.
Amid the hold, the central bank signaled continued U.S. economic progress on inflation.
The monthly decrease was driven predominantly by transportation equipment, following an increase in November.
The survey showed U.S. consumer sentiment declined in January, following six-months of positive sentiment.
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These reports deliver a wealth of wholesale distribution economic metrics and dealmaking analysis covering the October-December period, along with forecasts for 1Q25 and beyond.
The report showed that November was also down considerably year-over-year.
The Conference Board's LEI six-month and 12-month growth rates were less negative than earlier in 2024, while the CEI pointed to positive current economic growth despite a December downtick.
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November sales decreased slightly, following an 11% increase in October.
The report shows a decline in building permits and housing completions compared to December 2023.