The latest data from the Institute for Supply Management (ISM) shows that the US Manufacturing Purchasing Managers' Index (PMI) for September remained unchanged at 47.2. This figure is identical to the PMI recorded in August 2024. The ISM provided this update on October 1, 2024.
A reading below 50 indicates contraction in the manufacturing sector. The consistent level of 47.2 over the past two months suggests continued sluggishness and the lack of growth within the industry. Market analysts had hoped for signs of recovery, but the static figure points to ongoing challenges in the manufacturing landscape.
These challenges may reflect broader economic issues, such as supply chain disruptions, fluctuating demand, and global trade tensions. Monitoring future PMI data releases will be critical for stakeholders looking to gauge recovery prospects and make informed economic forecasts.
