Purchasing Managers' Index Dipped to 55.4% in September

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Purchasing Managers' Index Dipped to 55.4% in September

Tempe, AZ, October 1, 2020-The September Purchasing Managers’ Index (PMI) registered 55.4%, down 0.6 percentage point from the August reading of 56%, according to the Manufacturing ISM Report On Business. This figure indicates expansion in the overall economy for the fifth month in a row after a contraction in April, which ended a period of 131 consecutive months of growth. 

The New Orders Index registered 60.2%, a decrease of 7.4 percentage points from the August reading of 67.6%. 

The Production Index registered 61%, down 2.3 percentage points compared to the August reading of 63.3%. 

The Backlog of Orders Index registered 55.2%, 0.6 percentage point higher compared to the August reading of 54.6%. 

The Employment Index registered 49.6%, an increase of 3.2 percentage points from the August reading of 46.4%. 

The Supplier Deliveries Index registered 59%, up 0.8 percentage point from the August figure of 58.2%.

The Inventories Index registered 47.1%, 2.7 percentage points higher than the August reading of 44.4%. 

The Prices Index registered 62.8%, up 3.3 percentage points compared to the August reading of 59.5%. 

The New Export Orders Index registered 54.3%, an increase of 1 percentage point compared to the August reading of 53.3%. 

The Imports Index registered 54%, a 1.6-percentage point decrease from the August reading of 55.6%.

Of the 18 manufacturing industries, 14 reported growth in September, in the following order: paper products; wood products; food, beverage & tobacco products; furniture & related products; electrical equipment, appliances & components; nonmetallic mineral products; fabricated metal products; chemical products; miscellaneous manufacturing; plastics & rubber products; machinery; textile mills; computer & electronic products; and transportation equipment. The four industries reporting contraction in September are apparel, leather & allied products; printing & related support activities; petroleum & coal products; and primary metals.