US September manufacturing PMI 60.8 … Highest in 13 years
Manufacturing activity in the US surpassed market expectations in September, highest since May 2004.
The Institute for Supply Management (PMI) rose to 60.8 in September from 58.8 in the previous month. The Wall Street Journal (WSJ) expectation was 58.0.
The September output price index (OPI) surged to 71.5 from 62.0 last month.
The September employment index rose from 59.9 to 60.3 in the previous month.
The September production index rose from 61.0 to 62.2, but the inventory index fell from 55.5 to 52.5 .
“A large part of the ISM index shows the strength of the manufacturing sector,” said Daniel Silver economist JP Morgan. “There has been an increase in orders, production and employment.”