Following three months of contraction, economic activity in the manufacturing sector expanded in September, according to a survey of the nation’s supply executives published in the latest Manufacturing ISM Report On Business.
The PMI, a measure of factory activity, registered 51.5%, an increase of 1.9 percentage points from August’s reading of 49.6 percent. The September index could indicate a return to expansion, as a reading above 50 signals growth in the manufacturing sector.
In addition, the ISM’s New Orders Index registered 52.3%, an increase of 5.2 percentage points from August, indicating growth in new orders after three consecutive months of contraction.
However, the Production Index registered 49.5%, an increase of 2.3 percentage points but a level that indicates contraction in production for the second time since May 2009.
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