The manufacturing sector expanded in September following three consecutive months of slight contraction, according to the Manufacturing Institute for Supply Management Report on Business. The overall economy grew for the 40th consecutive month.
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The PMI registered 51.5 percent, an increase of 1.9 percentage points from August's reading of 49.6 percent, indicating a return to expansion after contracting for three consecutive months.
The New Orders Index registered 52.3 percent, an increase of 5.2 percentage points from August, indicating growth in new orders after three consecutive months of contraction.
The Production Index registered 49.5 percent, an increase of 2.3 percentage points and indicating contraction in production for the second time since May 2009.
The Employment Index increased by 3.1 percentage points, registering 54.7 percent.
The Prices Index increased 4 percentage points from its August reading to 58 percent.
Of the 18 manufacturing industries, 11 are reporting growth in September: Textile Mills; Food, Beverage & Tobacco Products; Printing & Related Support Activities; Wood Products; Apparel, Leather & Allied Products; Paper Products; Petroleum & Coal Products; Primary Metals; Fabricated Metal Products; Furniture & Related Products; and Miscellaneous Manufacturing.
The six industries reporting contraction are: Nonmetallic Mineral Products; Electrical Equipment, Appliances & Components; Transportation Equipment; Machinery; Chemical Products; and Computer & Electronic Products.
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