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 indicates expansion. Several other indicators also improved:
- New Orders grew for the ninth consecutive month, rising to 55.3 from 53.7.
- New Export Orders increased for the third consecutive month.
- Employment also grew at a faster rate, rising from 51.2 to 52.7.
- Production expanded for the 11th consecutive month, although at a slower rate.
- Customers’ Inventories fell to 41.6 from 42.8 in August and remained at a level considered “Too Low.”
- Prices continued to rise 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.
