“Economic activity in the manufacturing sector contracted in December for the second consecutive month, with the December PMI® registering 48.2 percent, a decrease of 0.4 percentage point from the November reading of 48.6 percent. 10 manufacturing industries reporting contraction in December included10 industries reporting contraction in December — listed in order — are: Apparel, Leather & Allied Products; Plastics & Rubber Products; Machinery; Primary Metals; Fabricated Metal Products; Transportation Equipment; Electrical Equipment, Appliances & Components; Computer & Electronic Products; Wood Products; and Nonmetallic Mineral Products.”- From the Institute for Supply Management: December 2015 Manufacturing ISM® Report On Business®
The good news from this report would seem to be that the broad economy continues to expand, even if Manufacturing is not.