Economic activity in the manufacturing sector expanded in September for the fourth consecutive month, and the overall economy grew for the 52nd consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report on Business.
The PMI registered 56.2%, an increase of 0.5% from August’s reading of 55.7%. September's PMI reading is the highest of the year, leading to an average PMI reading of 55.8% for the third quarter. The New Orders Index decreased in September by 2.7% to 60.5%, and the Production Index increased by 0.2% to 62.6%. The Employment Index registered 55.4%, an increase of 2.1% compared to August's reading of 53.3%, which is the highest reading for the year. The panel is generally positive and optimistic about increasing demand and improving business conditions.