US ISM Manufacturing PMI (September)
US ISM Manufacturing PMI at 54.5 in September (54.6 in August)
Actual
54.5
Forecast
—
Previous
54.6
What it means
The ISM PMI is a survey of factory purchasing managers. Above 50 means expansion; below 50 means contraction. At 54.5, US manufacturing has now grown for nine straight months. New orders rose to 55.3 (from 53.7) and employment to 52.7 (from 51.2), while production eased to 56.7 (from 58.3).
What it moves
The reading is almost unchanged from August, pointing to a solid industrial sector. That supports cyclical and industrial stocks, but it also reinforces the view of a strong economy that gives the Fed little reason to cut rates soon. Firms cite tariffs, the Iran war and price volatility as risks.
Affected markets
- US equities (cyclicals/industrials) → — Strong expansion supports earnings, but no acceleration vs. August
- US Treasury yields → — Solid activity and rising employment keep rate-cut hopes limited
- US dollar → — Data confirms resilient US growth without a big surprise
🎓 Today's takeaway
Always check new orders: they lead future production. And remember the PMI measures the direction of change, not the absolute level: 50 is the line between growing and shrinking.
Vectorial Economía is descriptive educational information about macro data. Not investment advice. Past market behavior does not guarantee future results.