According to the Institute for Supply Management (ISM), “The U.S. manufacturing sector expanded in September for the ninth consecutive month,” and “The overall economy continued in expansion for the 23rd month in a row.” ISM’s closely watched PMI was 54.5, (a reading above 50.0 is consistent with expansion). In other indexes, New Orders grew for the 9th consecutive month, and at a faster rate, moving to 55.3 from 53.7, new Export Orders grew for the 3rd consecutive month; Employment grew at a faster rate as well from 51.2 to 52.7, and Production continued to grow for the 11th straight month, all be it at a slower rate. Customers’ Inventories, fell to 41.6 from 42.8 in August, considered “Too Low”. Prices continued to expand, and at a faster rate, increasing to 77.9 in September from 71.1. Supplier Deliveries slowed for the 10th consecutive month. See the full report here.
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