The Coincident Manufacturing Index (CMI) for December 2022 was 114.2 (2016 = 100). Compared to the previous month of November 2022’s 113.9 CMI value, the activity within the sector for December 2022 has increased by 0.3%. When compared with the same month of the previous year of December 2021 that had a CMI of 107.6, December 2022’s activity increased by 6.1% and is the 21st consecutive month where the CMI has increased year-to-year, and by proxy the manufacturing sectors activity.
As for the 2022 calendar year the average Coincident Manufacturing Index was 112.6, 7.5% higher than the previous 2021 calendar year that maintained an average CMI of 104.7.
The Coincident Manufacturing Index is composed of several important indicators for the manufacturing sector and serves as a measure of the economic situation for the sector. These values demonstrate the continuous increment in the manufacturing sector’s activity and hints at the strength of the demand the manufacturing sector currently encounters for the products they produce.