Prior was 47.2Prices paid 48.3 vs 54.0 priorEmployment 43.9 vs 46.0 priorNew orders 46.1 vs 44.6 priorProduction 49.8 vs 44.8 priorSupplier deliveries 52.2 vs 50.5 priorInventories 43.9 vs 50.3 priorBacklog of orders 44.1 vs 43.6 priorNew export orders 45.3 vs 48.6 priorImports 48.3 vs 49.6 prior
The ISM Manufacturing index remained in contraction territory in September, unchanged at 47.2. Manufacturing has now been contracting for six months.
While still indicating shrinking activity, there were some glimmers of hope in the details. New orders and production both improved, though still below the 50 expansion/contraction line. The employment component weakened further, suggesting continued job losses in the manufacturing sector.
Notably, the prices paid index fell sharply into contraction, indicating easing inflation pressures. This could give the Fed some breathing room on rates.
Comments from survey respondents highlighted ongoing economic uncertainty, with many awaiting the impacts of lower interest rates and the November election before committing to 2025 plans
This article was written by Adam Button at www.forexlive.com.
