ISM Manufacturing PMI: Slower Contraction In September
Summary
- The ISM manufacturing purchasing managers’ index (PMI) came in at 49.1 in September, indicating contraction in U.S. manufacturing for a seventh straight month.
- One of the four demand indicators improved, with the Backlog of Orders Index showing a gain of 1.5 percentage points.
- Regarding output, the Production and Employment indexes improved, though 64 percent of panelists’ comments still indicated that managing headcount is still the norm at their companies, as opposed to hiring.
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By Jennifer Nash
The Institute for Supply Management (ISM) manufacturing purchasing managers’ index (PMI) came in at 49.1 in September, indicating contraction in U.S. manufacturing for a seventh straight month. The latest reading marks a slightly slower rate of contraction than in
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