PMI Figures Hike in U.S.
Figures released Monday morning showed a further improvement in operating conditions across the U.S. manufacturing sector. The overall upturn was supported by further growth in output and new orders. Strong client demand was a key factor behind the fastest rise in staffing levels so far this year.
The seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index registered 53.1 in September, up slightly on the flash reading of 53.0 and rising from 52.8 in August. The upturn signaled a slight pickup in growth momentum and a strong improvement in
overall operating conditions across the sector
Business confidence also remained strong, despite slipping since August. On the price front, cost pressures intensified, with input prices
increasing at the quickest pace since December 2012.
The news release heralding the higher numbers went on to say production growth continued to expand at the end of the third quarter, though the rate of growth was unchanged from August’s 14-month low.
Nonetheless, a number of panelists suggested the rise in production was due to improved market conditions.