United States Manufacturing PMI

The S&P Global Flash US Manufacturing PMI edged higher to 51.8 in September of 2022 from 51.5 in August, beating market forecasts of 51.1, preliminary estimates showed. Figures continued to signal a relatively subdued improvement in the health of the manufacturing sector although it was the second-lowest reading since July 2020. New orders grew for the first time in four months while production fell slightly, with relatively muted demand and supply chain constraints weighing on output and capacity. Also, backlogs of work increased again and employment grew the most since March. On the price front, input costs increased at a softer pace but firms raised their output charges at a sharper rate. Finally, manufacturers remained broadly confident of a rise in output over the coming year although confidence was dampened by ongoing concerns regarding economic uncertainty and the impact of inflation on customer spending.