US manufacturing PMI down 0.6 percentage points in September

US manufacturing PMI down 0.6 percentage points in September

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Economic activity in the US manufacturing sector grew in September, with the overall economy notching a fifth consecutive month of growth, according to the latest Manufacturing ISM Report On Business.

The September PMI registered 55.4 percent, down 0.6 percentage point from the August reading of 56 percent. This figure indicates expansion in the overall economy for the fifth month in a row after a contraction in April, which ended a period of 131 consecutive months of growth.

Index breakdown:

IndexSeptember levelAugust level
New Orders60.267.6
Production6163.3
Backlog of Orders55.254.6
Employment49.646.4
Supplier Deliveries5958.2
Inventories47.144.4
Prices62.859.5
New Export Orders54.353.3
Imports5455.6

Of the 18 manufacturing industries, 14 reported growth in September, in the following order: paper products; wood products; food, beverage and tobacco products; furniture and related products; electrical equipment, appliances and components; nonmetallic mineral products; fabricated metal products; chemical products; miscellaneous manufacturing; plastics and rubber products; machinery; textile mills; computer and electronic products; and transportation equipment.

The four industries reporting contraction in September are: apparel, leather and allied products; printing and related support activities; petroleum and coal products; and primary metals.

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