The Institute for Supply Management’s (ISM) factory index remained unchanged at 47.2 in September, indicating contraction for the sixth consecutive month. A reading below 50 signifies a decline in manufacturing activity.
Notably, the ISM’s manufacturing employment index dropped to 43.9, marking the fourth month of contraction. Only 8% of respondents reported increasing employment, the lowest share since the onset of the pandemic.
Limited capital spending, high borrowing costs, and uncertainty surrounding the upcoming presidential election are significant headwinds for manufacturing. Export markets also remain fragile, with the ISM index of export orders showing the steepest contraction since January.
#EyeOnVolatility
The form has been submitted successfully!
There has been some error while submitting the form. Please verify all form fields again.
