United States: U.S. manufacturing sector rebounds in September
October 3, 2016
The ISM manufacturing index increased more than expected in September and returned to expansionary territory, after a temporary setback in August. The indicator jumped from 49.4 in August to 51.5 in September and also beat market expectations of 50.5. This brought the ISM index just above the 50-threshold that indicates an expansion.
The underlying details were encouraging. New orders rebounded in September from an eight-month low in August and manufacturing output increased sharply in September, following a four-year plunge in the previous month. Employment rose mildly, whereas supply deliveries edged down for a second consecutive month. Inventory levels remained virtually unchanged over the previous month.
Author: Ricardo Aceves, Senior Economist