US ISM manufacturing PMI eases to 54.5 in September

The Institute for Supply Management (ISM) manufacturing Purchasing Managers' Index (PMI) in the US dropped slightly to 54.5 in September, signaling a minor slowdown in expansion, according to data released on Thursday.

The index declined 0.1 points from 54.6 in August, coming in slightly below market expectations of 54.8.

Among sub-indexes, the new orders index climbed 1.6 points to 55.3 and employment gained 1.5 points to 52.7, while the production index fell 1.6 points to 56.7.

A total of 12 manufacturing industries reported growth during the month, led by electrical equipment, nonmetallic mineral products, primary metals, and computer products, while two sectors registered contraction.

Readings above 50 indicate expansion in the manufacturing sector, while values below 50 point to contraction.