Keeping you up to date on the latest data releases.
- ISM Manufacturing
As a further sign that the inventory cycle is waning, the ISM’s Manufacturing Purchasing Managers Index (PMI) slipped further away from a cyclical high of 60.4 in April—edging down from an index value of 56.3 in August to 54.4 in September. Four out of the five components of the ISM?s diffusion index declined in September, with the only increase coming from manufacturers’ inventories (up from 51.4 to 55.6). The new orders component fell from 53.1 to 51.1 during the month, while the production index is slipped down 3.4 index points to 56.5. Manufacturing employment, as measured by the ISM, continued to expand in September, though at a lesser rate than in August, as the employment index decreased from 60.4 to 56.5.