The Institue for Supply Management announced that the business activity in the manufacturing sector in the U.S. expanded at a slower-than-expected pace in September with the headline PMI data easing to 59.8 from 72.1 in August and missing the analysts’ estimate of 71.3.
Key quotes from the press release
- The September PMI ® registered 59.8 percent, a decrease of 1.5 percentage points from the August reading of 61.3 percent.
- The New Orders Index registered 61.8 percent, a decrease of 3.3 percentage points from the August reading of 65.1 percent.
- The Production Index registered 63.9 percent, a 0.6 percentage point increase compared to the August reading of 63.3 percent.
- The Employment Index registered 58.8 percent, an increase of 0.3 percentage point from the August reading of 58.5 percent.
- The Supplier Deliveries Index registered 61.1 percent, a 3.4-percentage point decrease from the August reading of 64.5 percent.
- The Inventories Index registered 53.3 percent, a decrease of 2.1 percentage points from the August reading of 55.4 percent.
- The Prices Index registered 66.9 percent in September, a 5.2-percentage point decrease from the August reading of 72.1 percent, indicating higher raw materials prices for the 31st consecutive month.
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