October 1, 2009

U.S. manufacturing growth slows slightly

The Institute of Supply Management said Thursday U.S. manufacturing activity rose for the second consecutive month in September.

The Purchasing Mangers Index declined from 52.9 to 52.6, but remained in positive territory, as figures above 50 indicate growth, while below 50 indicated contraction.

For the headline index, it was the second month of growth after 18 consecutive months of contractions.

In September, the new orders index stayed positive, but dropped from 64.9 to 60.8. Production fell from 61.9 to 55.7, indicating growth at a slower pace than the previous month.

The employment index contracted for the 14th consecutive month with the pace of losses accelerating slightly, the index falling from 46.4 to 46.2.

Exports and imports activity, at 55 points and 52 points, respectively, both accelerated in September.