The December ISM® Report On Business® gave a PMI reading of 48.4 percent for US manufacturers which continued an overall downward trend that dates back to November 2021. It was also the second straight month in contraction territory for US manufacturing.
By Phillip M. Perry
The economy will slow perceptively in 2023. Less robust activity in sectors such as housing, retailing and manufacturing will put downward pressure on growth and contribute to a deceleration in profits. Companies can prepare for a tougher environment by tracking cash flow closely, investing selectively and hiring prudently.
