US manufacturing steady in September, input prices increase
Manufacturers expanded for a ninth straight month as new orders and backlogs rose, while the ISM prices index posted its biggest monthly gain since February.
- The Institute for Supply Management reported Thursday that the manufacturing PMI dipped to 54.5 from 54.6 in August, though the index has held above the 50 threshold this year, indicating growth.
- An infrastructure buildout is supporting manufacturing alongside businesses rebuilding inventories to meet robust domestic demand, helping factory employment rise to 52.7 from 51.2 in August.
- Prices paid for inputs jumped to 77.9 from 71.1 in August, with economists expecting inflation could remain above the Federal Reserve's 2% target for some time.
- Concerns persist that segments outside the recent spending boom could struggle, as the US-Israeli war with Iran has snarled supply chains and raised energy prices, with Diesel prices at record highs.
- Economists forecast nonfarm payrolls increased by 90,000 and the unemployment rate held steady at 4.1% in September's employment report, due for release on Oct 2.
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U.S. Services Growth Hits Five-Year High as Demand and Hiring Accelerate
U.S. service-sector activity accelerated in September to its strongest pace since July 2021, with new orders, employment and backlogs all climbing as growth broadened across ... The post U.S. Services Growth Hits Five-Year High as Demand and Hiring Accelerate first appeared on [your]NEWS.
The expansion of the U.S. services sector slowed last month. The price index, which reflects the cost burden on companies, rose to its highest level in over four years. According to the U.S. Institute of Supply Management (ISM) on the 5th (local time), the services Purchasing Managers Index (PMI) for September stood at 54.9, down 0.5 points from the previous month (55.4). The PMI is an index calculated by surveying business conditions among corp…
U.S. Services Growth Hits Five-Year High as Expansion Spreads Across Economy
U.S. service-sector activity expanded in September at the fastest pace in more than five years, with technology businesses leading a broad advance as stronger demand encouraged companies to increase hiring, according to a survey released Monday by S&P Global. The
The spokesman-Review
Times of IndiaUS services sector cools in September, price pressures building
US services sector activity slowed in September, while strong domestic demand stretched supply chains and pushed a measure of prices paid by businesses for inputs to its highest level in more than four years, suggesting inflation could remain elevated into 2027.
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Factory purchasing managers just sent a signal that the last stretch of falling inflation may be coming to an end, and the reason behind it traces straight back to what consumers are doing with their wallets.
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