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The report’s key metric, known as the PMI, was 59.7 (a reading of 50 or higher indicates growth) in December, which was 1.5% ahead of November’s 58.2. This marks the 16th straight month that the PMI has grown, with the overall economy growing for the 103rd consecutive month. The December PMI is 2.1% ahead of the 12-month average of 57.6.

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