Shares of industrial and transportation companies were lower amid mixed data.
Factories in Europe and the U.S. reported a further easing of supply-chain problems and associated cost increases as 2021 drew to a close, although the rapid spread of Omicron around the world threatens to worsen shortages of labor and supplies.
The U.S. purchasing managers index for manufacturing fell to 57.7 in December from 58.3 in November, the slowest pace of growth in 2021, according to data firm IHS Markit. In Europe, the same index declined to 58.0 from 58.4, its lowest level in 10 months. Readings above 50 indicate expanding activity while those below are a sign of contraction.
Meanwhile, outlays for construction projects rose 0.4% in November at a seasonally adjusted annual rate of $1.63 trillion, the Commerce Department reported. Economists polled by The Wall Street Journal had expected a 0.7% increase.
Thousands of additional U.S. flights were canceled Monday as a winter storm and Omicron-driven staff shortages continued to disrupt air travel after the busy holiday season. Airlines canceled more than 2,700 U.S. flights and delayed more than 3,300 flights by midday Monday, according to aviation data tracker FlightAware. The airline industry has canceled more than 18,000 flights from Christmas Eve through Monday, according to FlightAware.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
01-03-22 1710ET
