Keeping you up to date on the latest data releases.
- ISM Manufacturing
The ISM’s Manufacturing Purchasing Managers Index (PMI) rose 1.0 index point to 51.6 in September. This small increase contrasts with a six-month slowdown from a recent high of 61.4 that left the index just 0.6 points above its growth threshold of 50 as of August. Still, the manufacturing PMI is 5 points below its 12-month average of 56.6. The gain in the overall index was largely driven by gains in the production and employment components. The production index jumped up 2.6 points to 51.2 in September, after a brief dip into the red in August. It remains below its level of 52.3 in July. The employment index rose 2.0 points during the month, more than reversing a 1.8 point dip in August. One other component registered an increase in September: Supplier deliveries increased 0.8 points to 51.4. On the other hand, the new orders index remained slightly in the red at 49.6 in September, and inventories edged down 0.3 points to 52.0. The prices index (which is not seasonally adjusted and does not enter into the overall PMI) increased 0.5 points to 56.0 in September, but it is still well below a recent cyclical high of 76.5 in May.