- Economic activity in the US’ manufacturing sector continued to expand in September.
- US Dollar Index stays flat on the day near 93.80 after the data.
The IHS Markit’s Manufacturing Purchasing Managers’ Index (PMI) for the US ticked higher to 53.2 in September from 53.1 in August to show that the economic activity in the manufacturing sector continued to expand at a similar pace. This reading, however, came in slightly weaker than the flash estimate of 53.5.
Further details of the publication revealed that the New Orders Index edged lower 53.6 from 54.
Commenting on the data, “US manufacturers rounded off a solid quarter which should see the sector rebound strongly from the steep second-quarter downturn,” said Chris Williamson, Chief Business Economist at IHS Markit. “But it was not all good news. Supply shortages worsened as companies increasingly struggled to source enough inputs to meet production requirements.”
Market reaction
The US Dollar Index showed no immediate reaction to this data and was last seen flat on the day at 93.81.
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