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- U.S. manufacturing activity growth decelerates slightly less than initially estimated in September - HIS Markit
U.S. manufacturing activity growth decelerates slightly less than initially estimated in September - HIS Markit
The
latest report by IHS Markit revealed on Friday the seasonally adjusted IHS
Markit final U.S. Manufacturing Purchasing Managers’ Index (PMI) came in at 60.7
in September, down from 61.1 in August but slightly higher than the earlier
released “flash” reading of 60.5. Still, the September reading pointed to the
slowest growth in factory activity since April.
Economists
had forecast the index to stay unrevised at 60.5.
According
to the report, the September drop in headline figure reflected weaker production
growth, which was hampered by severe material and labour shortages, as supply
chain disruption worsened. Demand conditions softened from the peaks seen
earlier in the year, but both domestic and foreign client orders expanded at
historically elevated rates. On the price front, the pace of input cost
inflation deccelarated only slightly from August's series record, causing firms to increase
their charges at an unprecedented rate.
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