The pace of contraction of the manufacturing sector in America slowed down in September

Economic data published today showed that the pace of contraction in the manufacturing sector in the United States slowed in September to its lowest level in about a year.
According to the US Institute for Supply Management, the Purchasing Managers ‘ Index for the manufacturing sector rose over the past month to 49 points, the highest level since November last year. The index last August was 47.6 points.
It is noteworthy that a reading of the index below 50 points indicates the growth of economic activity of the sector, while a reading below 50 points indicates a contraction of activity.
“Bloomberg” pointed out that the reading of the index over the past month was higher than the expectations of the analysts surveyed.
The rise in the Purchasing Managers ‘ Index of the manufacturing sector in the United States came over the past month, supported by the strongest growth in the sector’s production since July 2022, as well as the expansion in employment. On the other hand, the new orders index rose to its highest level since a year ago, although it remained below 50 points.
The manufacturing employment index rose for the first time in 4 months, which gives producers the ability to meet the backlog of orders.
At the same time, manufacturing companies benefited from the decline in the prices of production inputs, as the input price index fell by 4.6 points, the largest decline in 4 months, to 43.8 points last month.