The IHS Markit US Manufacturing PMI rose to 51.0 in September 2019 from a decade low of 50.3 in the previous month and above market expectations of 50.3, a preliminary estimate showed.
Stronger rates of output and new order growth were the main factors helped to boost the headline PMI in September, alongside a slight upturn in staffing levels. However, export order books continued to weaken, as signalled by a drop in new work from abroad for the fourth time in the past five months.
Manufacturers remained cautious in terms of their input buying strategies in September, as signalled by a further reduction in purchasing activity and lower pre-production inventory holdings. Stocks of finished goods were also depleted, which continued the downward trend seen since May.
Meanwhile, latest data pointed to only modest rises in both input costs and factory gate charges in September, although in each case the rate of inflation accelerated since the previous month.
9/23/2019 1:54:04 PM