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ISM manufacturing index falls again in September

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Investing.com -

Investing.com - Manufacturing activity in the U.S. slowed again in September, raising fears that the Federal Reserve could delay raising interest for longer, according to data on Thursday.

The Institute for Supply Management said its index of purchasing managers fell to 50.2 last month from a reading of 51.1 in August. It was the weakest reading since May 2013 and was worse than expectations for a more modest decline to 50.6.

On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.

The ISM said the new orders, employment and new import growth all slowed last month.

The new orders component of the index fell to 50.1 from 51.7 in August and the employment index came in at 50.5, down from a reading of 51.2.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 96.16, compared to 96.22 ahead of the report.

Meanwhile, U.S. equity markets were flat to lower after the open. The Dow 30 was down 0.31%, the S&P 500 lost 0.23%, while the Nasdaq Composite was down 0.58%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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