U.S. Manufacturing PMI at 54.5% for Ninth Consecutive Month of Expansion
The U.S. manufacturing sector continued to expand in September 2026, according to the latest ISM® Manufacturing PMI® Report. The index registered 54.5%, slightly down from August's 54.6%. This marks nine consecutive months of growth and extends the overall economic expansion for a total of 23 months. Key indicators such as New Orders (up to 55.3%), Production, Employment, Imports, Exports, and Prices all showed positive momentum. However, some challenges were noted: Supplier Deliveries slowed for the tenth month in a row, Raw Materials Inventories contracted further, and Customers' Inventories remained too low—typically seen as a sign of future production potential. Price pressures intensified with the Prices Index rising to 77.9%, up significantly from August's reading. Sentiment among supply executives was mixed: while demand indicators like New Orders and Employment showed strong growth, negative comments outnumbered positive ones in most categories, citing issues such as pricing volatility, tariffs, geopolitical tensions (e.g., the Iran war), and lead time delays.
Topics: economic growth employment ISM® Manufacturing PMI® manufacturing supplier deliveries