US: ISM manufacturing PMI bounces in September

ISM's manufacturing index increased to 51.5 in September, bouncing from 49.4 in August when it fell into contraction territory for the first time since February. A reading above 50 indicates that the sector is expanding and vice versa.     

“Economic activity in the manufacturing sector expanded in September following one month of contraction in August, and the overall economy grew for the 88th consecutive month, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®.” said ISM.

The New Orders Index registered 55.1 up from 49.1 in August. The Production Index registered 52.8, higher than the August reading of 49.6. The Employment Index registered 49.7, from the August reading of 48.3. Inventories of raw materials registered 49.5, up from 49 the prior month. The Prices Index registered 53 in September, the same reading as in August, indicating higher raw materials prices for the seventh consecutive month.