The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) for September climbed two points to 55.9 from August, its highest reading since May 2022 and the fourteenth consecutive month above the neutral mark of 50. Manufacturers reported gains in output, new orders, and employment due to domestic demand, while export sales declined for a fifteenth month amid tariffs and shipping costs.
The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times, and stocks of raw materials. A reading above 50 indicates growth. See S&P Global