Economic Buzz: US ISM Manufacturing Index Falls To 50.9 In September

4 Oct 2022 , 09:05 AM

Activity in the U.S. manufacturing sector slowed by more than expected in the month of September but still saw continued growth, according to a report released by the Institute for Supply Management. The ISM said its manufacturing PMI fell to 50.9 in September from 52.8 in August, although a reading above 50 still indicates growth in the sector. The decline by the headline index was largely due to a downturn by new orders, as the new orders index slumped to 47.1 in September from 51.3 in August. The employment index also slid to 48.7 in September from 54.2 in August, indicating a contraction in manufacturing employment following one month of growth. On the other hand, the production index inched up to 50.6 in September from 50.4 in August, but only two of the top six industries – machinery and computer and electronic products – expanded. The report also showed the prices index edged down to 51.7 in September from 52.5 in August, suggesting a slowdown in the pace of price growth. Powered by Commodity Insights