December Manufacturing PMI Holds Steady at 51.8, Indicating Expansion

Manufacturing PMI Overview

• 📊 The December final read for the S&P Global Manufacturing PMI remained at 51.8, matching the mid-month reading.
• ⚠️ This reading signifies that the manufacturing sector is still in expansion territory, as a score above 50 indicates growth.

Trends and Comparisons

• 📉 July 2025 was the only month in the previous year that registered below 50, indicating contraction.
• 📈 The month following July saw the highest reading of the year at 53, with a gradual decline since then.
• 📌 The current 51.8 reading is the lowest since the sub-50 level observed in July.

Economic Context

• 🔗 Yields on the 10-year Treasury are currently at 4.17, virtually unchanged on the day and up three basis points on the week.
• ⚠️ Despite the overall expansion, the trend suggests that manufacturing may not be performing optimally.