US manufacturing PMI down 0.6 percentage points in September

Thursday, 01 October 2020 18:23:29 (GMT+3)   |   San Diego

Economic activity in the US manufacturing sector grew in September, with the overall economy notching a fifth consecutive month of growth, according to the latest Manufacturing ISM Report On Business.

The September PMI registered 55.4 percent, down 0.6 percentage point from the August reading of 56 percent. This figure indicates expansion in the overall economy for the fifth month in a row after a contraction in April, which ended a period of 131 consecutive months of growth.

Index breakdown:

Index September level August level
New Orders 60.2 67.6
Production 61 63.3
Backlog of Orders 55.2 54.6
Employment 49.6 46.4
Supplier Deliveries 59 58.2
Inventories 47.1 44.4
Prices 62.8 59.5
New Export Orders 54.3 53.3
Imports 54 55.6

Of the 18 manufacturing industries, 14 reported growth in September, in the following order: paper products; wood products; food, beverage and tobacco products; furniture and related products; electrical equipment, appliances and components; nonmetallic mineral products; fabricated metal products; chemical products; miscellaneous manufacturing; plastics and rubber products; machinery; textile mills; computer and electronic products; and transportation equipment.

The four industries reporting contraction in September are: apparel, leather and allied products; printing and related support activities; petroleum and coal products; and primary metals.

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