Production
The Production Index registered 64.8 percent in December, 4 percentage points above the November reading of 60.8 percent, indicating growth for the seventh consecutive month and the sixth straight month above 60 percent. This is the highest reading since January 2011, when the index registered 65.3 percent. "Five (Fabricated Metal Products; Computer & Electronic Products; Petroleum & Coal Products; Transportation Equipment; and Chemical Products) of the top six industries expanded moderately to strongly," says Fiore. An index above 51.7 percent, over time, is generally consistent with an increase in the Federal Reserve Board's Industrial Production figures.

The 13 industries reporting growth in production during the month of December — listed in order — are: Apparel, Leather & Allied Products; Printing & Related Support Activities; Wood Products; Furniture & Related Products; Fabricated Metal Products; Primary Metals; Computer & Electronic Products; Plastics & Rubber Products; Petroleum & Coal Products; Machinery; Transportation Equipment; Electrical Equipment, Appliances & Components; and Chemical Products. The two industries reporting decreased production in December are: Nonmetallic Mineral Products; and Miscellaneous Manufacturing.

Employment
ISM^®'s Employment Index registered 51.5 percent in December, 3.1 percentage points higher than the November reading of 48.4 percent. "Following one month of contraction, the Employment Index moved back into expansion territory. The December figure is 24 percentage points above the index's low of 27.5 percent registered in April. Only three (Fabricated Metal Products; Computer & Electronic Products; and Chemical Products) of the six big industry sectors expanded. Continued strong new-order levels and an expanding backlog indicate potential employment strength for the first quarter of 2021. For the fourth straight month, survey panelists' comments indicate that significantly more companies are hiring or attempting to hire than those reducing labor forces," says Fiore. An Employment Index above 50.8 percent, over time, is generally consistent with an increase in the Bureau of Labor Statistics (BLS) data on manufacturing employment.

Of the 18 manufacturing industries, the eight industries to report employment growth in December — in the following order — are: Apparel, Leather & Allied Products; Furniture & Related Products; Primary Metals; Miscellaneous Manufacturing; Fabricated Metal Products; Computer & Electronic Products; Chemical Products; and Machinery. The five industries reporting a decrease in employment in December are: Printing & Related Support Activities; Petroleum & Coal Products; Food, Beverage & Tobacco Products; Plastics & Rubber Products; and Electrical Equipment, Appliances & Components.

Supplier Deliveries^�nbsp;
The delivery performance of suppliers to manufacturing organizations was slower in December, as the Supplier Deliveries Index registered 67.6 percent. This is 5.9 percentage points higher than the 61.7 percent reported in November. "Suppliers continue to struggle to deliver, with deliveries slowing at a faster rate compared to November. Transportation challenges and challenges in supplier-labor markets are still constraining production growth — and to a greater extent compared to the previous month. The Supplier Deliveries Index reflects the difficulties suppliers continue to experience due to COVID-19 impacts. Supplier labor and transportation constraints are not expected to diminish in the near-to-moderate term due to COVID-19," says Fiore. A reading below 50 percent indicates faster deliveries, while a reading above 50 percent indicates slower deliveries.

Sixteen industries reported slower supplier deliveries in December, listed in the following order: Fabricated Metal Products; Paper Products; Plastics & Rubber Products; Printing & Related Support Activities; Furniture & Related Products; Textile Mills; Electrical Equipment, Appliances & Components; Machinery; Food, Beverage & Tobacco Products; Miscellaneous Manufacturing; Chemical Products; Transportation Equipment; Wood Products; Computer & Electronic Products; Nonmetallic Mineral Products; and Primary Metals. No industries reported faster supplier deliveries in December.

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