Economic activity in the US manufacturing sector expanded in September, and the overall economy grew for the 113th consecutive month, according to the latest Manufacturing ISM Report On Business.
The September PMI registered 59.8 percent, a decrease of 1.5 percentage points from the August reading of 61.3 percent.
The New Orders Index registered 61.8 percent, a decrease of 3.3 percentage points from the August reading of 65.1 percent.
The Production Index registered 63.9 percent, a 0.6 percentage point increase compared to the August reading of 63.3 percent.
The Employment Index registered 58.8 percent, an increase of 0.3 percentage point from the August reading of 58.5 percent.
The Supplier Deliveries Index registered 61.1 percent, a 3.4-percentage point decrease from the August reading of 64.5 percent.
The Inventories Index registered 53.3 percent, a decrease of 2.1 percentage points from the August reading of 55.4 percent.
The Prices Index registered 66.9 percent in September, a 5.2-percentage point decrease from the August reading of 72.1 percent, indicating higher raw materials prices for the 31st consecutive month.
Of the 18 manufacturing industries, 15 reported growth in September, in the following order: textile mills; miscellaneous manufacturing; plastics and rubber products; computer and electronic products; food, beverage and tobacco products; machinery; apparel, leather and allied products; paper products; electrical equipment, appliances and components; chemical products; petroleum and coal products; transportation equipment; furniture and related products; fabricated metal products; and nonmetallic mineral products.
The only industry reporting contraction in September is primary metals.