10/2, 4:01 PM (Source: TeleTrader)
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ISM: US manufacturing PMI up to 49%

United States Manufacturing Purchasing Managers Index (PMI) rose to 49% in September from 47.6% registered in August, the Institute for Supply Management (ISM) said on Monday. Despite the figure being better than the month prior, it is the eleventh consecutive monthly contraction.

Based on the data presented by ISM, only the Production and Employment Indexes exceeded the 50% threshold, reaching 52.5% and 51.2% respectively. The New Orders Index reached 49.2%. On the other hand, the Prices Index experienced the most significant decline, dropping by 4.6% in September compared to the previous month.

"The U.S. manufacturing sector ... [recorded] its best performance since November 2022, when the PMI also registered 49%. Companies are still managing outputs appropriately as order softness continues, but the month-over-month PMI improvement in September is a clear positive," Timothy Fiore, chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee, commented.

Baha Breaking News (BBN) / RR