We’re about to find out how America’s manufacturing sector performed in September.
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The Institute for Supply Management’s purchasing managers index for USA manufacturing decelerated to a reading of 50.2 in September, down from August’s reading of 51.1. Dow Jones was calling for a consensus estimate of 50.8 and Bloomberg had its consensus estimate at 50.5.
Of the 18 manufacturing industries surveyed last month, only seven reported growth, led by printing and textile mills, while the other 11 reported contraction.
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The pace of growth in the U.S. manufacturing sector slowed in September while remaining at its lowest level since May 2013, according to an industry report released on Thursday (Oct 1). And inventories were flat at 48.5 while contracting for the third straight month, while customer inventories rose 1.5 percent to 54.5 to its highest level since January 2009. It was also 0.1 points above the 53.0 consensus estimate from Bloomberg. Input prices were a key drop here, but slower numbers were seen in orders and production – and in employment. Exports activity continued to contract at the same pace, while imports fell more than in August. The blame here is an uncertain global economic picture and cautious spending patterns.
