U.S. Manufacturing PMI Shows Signs of Stabilization at 49.1% in September
The ISM Manufacturing PMI for September stood at 49.1%, marking the seventh consecutive month of contraction in the U.S. manufacturing industry. This figure, although slightly higher than August's 48.7%, remains below the 50% threshold that indicates growth.
The employment index registered 45.3% in September, indicating a slower rate of contraction compared to the previous month. However, the new orders index fell into contraction territory, with a reading of 48.9%. Despite these challenges, two of the five subindexes—production and supplier deliveries—remained in expansion territory, with readings of 51.0% and 50.9% respectively.
Respondents cited tariffs, inflation, and geopolitical issues as key challenges facing their businesses. Despite these headwinds, five manufacturing industries reported growth in September, including petroleum & coal products, primary metals, textile mills, fabricated metal products, and miscellaneous manufacturing. Notably, only one of the six largest manufacturing industries—petroleum & coal products—expanded during the month.
While the U.S. manufacturing industry continues to contract, there are signs of resilience. September saw growth in several industries and subindexes, suggesting that the sector may be stabilizing despite persistent challenges. As the manufacturing PMI remains below the 50% mark, businesses and policymakers will continue to monitor the situation closely.
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