US ISM Manufacturing PMI fell to 54.5 in September
In September, the US manufacturing sector's economy lost some momentum. Indeed, the ISM Manufacturing PMI weakened to 54.5 in September from 54.6, which was also lower than analysts' predictions of 55.0.
In September, the US manufacturing sector's economy showed a slight decline in momentum, as the ISM Manufacturing PMI fell to 54.5 from 54.6, falling short of analysts' expectations of 55.0. However, the Employment Index rose to 52.7 from 51.2, indicating that payrolls continue to be robust. The Prices Paid Index, which tracks inflation, increased to 77.9 from 71.1, while the New Orders index climbed to 55.3 from 53.7.
Susan Spence, Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee, stated that the overall economy has been expanding for the 23rd consecutive month. The September New Orders Index of 55.3 represents a 1.6 percentage point increase compared to August's 53.7. The Production Index, at 56.7 percent, was 1.6 percentage points lower than August's 58.3 percent.
The Prices Index remained in expansion, rising to 77.9 percent, a significant 6.8 percentage point increase from August's 71.1 percent.
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Also reported by 1 other outlet
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