U.S. PMI Manufacturing Index Rose to 53.9%

Today the U.S. Manufacturing ISM report was published and the U.S. Manufacturing
PMI growth rate rose again to 53.9% during December. The U.S. Manufacturing PMI
– an index that presents the economic activity in the U.S. manufacturing
sector, rose for the 29th consecutive month; the growth rate inclined from 52.7%
in November to 53.9% in December i.e. a 1.2 percent points increase. This means
that the U.S. manufacturing sector is growing at a higher pace in December
compared to November. Among the factors that were examined in this survey: one
of the sharpest increase was the production from 56.6% to 59.9% an increase of
3.3 percent point; imports also grew by 5.0 percent points; employment also rose
by 3.3 percent points to 55.1%; on the other hand, among the sectors that
contracted were customers inventories – a decrease of 7.5 percent point to
42.5% and inventories – a drop of 1.2 percent point to 47.1. According to
Roache et. al (2008) it was suggested that the PMI Manufacturing ISM report has
a negative relation with gold and silver prices, without controlling the effect
of US dollar. Currently, it seems that this news might have an effect on gold
and