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Pace of manufacturing expansion slows in September

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Pace of manufacturing expansion slows in September

ISM report reflects a generally optimistic environment.

Economic activity in the manufacturing sector expanded in September for the 16th consecutive month, and the overall economy grew for the 64th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.

The September PMI registered 56.6%, a decrease of 2.4 percentage points from August’s reading of 59%, indicating continued expansion in manufacturing.

The New Orders Index declined 6.7 percentage points, coming in at 60%. The Production Index remained fairly flat, increasing by 0.1% to 64.6%. The Employment Index grew for the 15th consecutive month, registering 54.6%, a decrease of 3.5 percentage points below the August reading of 58.1%. Inventories of raw materials decreased 0.5% to 51.5 percent.

Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management Manufacturing Business Survey Committee, noted that “Comments from the panel reflect a generally positive business outlook, while noting some labor shortages and continuing concern over geopolitical unrest."

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