WASHINGTON (MarketWatch)The U.S. flash manufacturing purchasing managers' index inched lower to a 54.4 reading in December from 54.7 in November, but still signaled solid business conditions, Markit said
The November reading was an 8-month high
"Over the fourth quarter as a whole, manufacturing has enjoyed its best performance since the start of the year," said Chris Williamson, chief economist at Markit
Figures greater than 50 indicate expansion
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The data appear to show that momentum signaled by purchasing managers in surveys like the Institute for Supply Management manufacturing index has shown up in hard data.
To little surprise, motor vehicles and parts continued to grow, rising 3.4% on the month to take year-on-year gains to 7.5%.
But other categories also joined in the advance, including a 3.1% leap in wood products.
Consumer goods more broadly saw a 1.5% advance while business equipment output fell 0.5% on the month.
There were other reports on the manufacturing sector on Monday: the Empire State factory index limped into positive territory while the Markit flash purchasing managers index for December signaled a somewhat slower pace of activity at a still-strong 54.4 reading.
WASHINGTON (MarketWatch) - Federal Reserve Chairman Ben Bernanke on Monday said the central bank must continue "to stand up to political pressure and make tough but necessary decisions." In a speech at a Fed event celebrating the institution's 100th birthday, Bernanke compared his steps to end the financial crisis with the fight against inflation waged by former Fed chairmen Paul Volcker and Alan Greenspan . He said the Fed was able to make difficult choices because of the 14-year terms for Fed governors and the diverse representation on the policy-making committee. The Fed must continue to be transparent and accountable so that the public understands and accepts the central bank's actions. Bernanke said the Fed's response to the crisis was "nothing new" in that it offered liquidity and stability to financial markets. But new tools were needed in the context of a "21st century economic and financial environment," he said.
USD Índice de Precios al Consumo (MoM) 0.0% 0.1% -0.1%
Ingresos Reales (MoM)
0.4% 0.3% 0.1%
U.S. weekly jobless claims climb 10,000 to 379,000
New jobless claims highest since late March
Four-week claims average rises 13,250 to 343,500
Continuing claims increase 94,000 to 2.88 million
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