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.
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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