Purchasing Managers' Index Registered 50.9% in September
Tempe, AZ, October 3, 2022-The September Manufacturing Purchasing Managers’ Index (PMI) registered 50.9%, 1.9 percentage points lower than the 52.8% recorded in August, say the nation's supply executives in the latest Manufacturing ISM Report On Business. This figure indicates expansion in the overall economy for the 28th month in a row after contraction in April and May 2020.
The Manufacturing PMI figure is the lowest since May 2020, when it registered 43.5%.
The New Orders Index returned to contraction territory at 47.1%, 4.2 percentage points lower than the 51.3% recorded in August.
The Production Index reading of 50.6% is a 0.2-percentage point increase compared to August’s figure of 50.4%.
The Prices Index registered 51.7%, down 0.8 percentage point compared to the August figure of 52.5%. This is the index’s lowest reading since June 2020 (51.3%).
The Backlog of Orders Index registered 50.9%, 2.1 percentage points lower than the August reading of 53%. After a single month of expansion, the Employment Index contracted at 48.7%, 5.5 percentage points lower than the 54.2% recorded in August.
The Supplier Deliveries Index reading of 52.4 %is 2.7 percentage points lower than the August figure of 55.1%. This is the index’s lowest reading since before the coronavirus pandemic (52.2% in December 2019).
The Inventories Index registered 55.5%, 2.4 percentage points higher than the August reading of 53.1%.
The New Export Orders Index contracted at 47.8%, down 1.6 percentage points compared to August’s figure of 49.4%. This is the index’s lowest reading since June 2020, when it registered 47.6%.
The Imports Index remained in expansion territory at 52.6%, 0.1 percentage point above the August reading of 52.5%.
Nine manufacturing industries reported growth in September, in the following order: nonmetallic mineral products; machinery; plastics & rubber products; miscellaneous manufacturing; apparel, leather & allied products; transportation equipment; food, beverage & tobacco products; computer & electronic products; and electrical equipment, appliances & components. The seven industries reporting contraction in September compared to August, in the following order are furniture & related products; textile mills; wood products; printing & related support activities; paper products; chemical products; and fabricated metal products.