Economic indicators over the recent period delivered a mixed but informative set of signals. The ISM Manufacturing Purchasing Managers’ Index (PMI) came in slightly worse than expected at 47.9% versus 48.3% expected, marking the tenth straight month of contraction and the lowest reading of 2025.
Economic indicators over the recent period provide a nuanced view of U.S. conditions as the year closed. Crude oil inventories showed mixed results at the end of the year, with a small increase followed by a decline. However, product stockpiles — like gasoline and distillates — rose sharply, reinforcing the view that supply remains ample.
It was a shortened week due to the Christmas holiday, but several key economic reports were released that provided a snapshot of current conditions.
Last week’s economic data offered a concentrated look at a U.S. economy in transition, with headline numbers masking deeper shifts beneath the surface.
Last week’s economic calendar painted a nuanced picture of the U.S. economy, reflecting a softening labor market, mixed consumer activity, and divergent signals from manufacturing and services sectors.