The ISM Manufacturing PMI for the United States fell to 55.4 in September of 2020 from 56 in August, below market forecasts of 56.4. The reading pointed to the 4th consecutive month of expansion in factory activity, although the growth rate eased from August’s near 2-year high. A slowdown was seen in new orders (60.2 vs 67.6), production (61 vs 63.3) and supplier deliveries (59 vs 58.2) while employment was nearly stable (49.6 vs 46.4). Inventories contracted at a slower pace (47.1 vs 44.4) and new export orders rose faster (54.3 vs 53.3). Price pressures intensified (62.8 vs 59.5). “After the coronavirus pandemic brought manufacturing activity to historic lows, the sector continued its recovery in September. Survey Committee members reported that their companies and suppliers continue to operate in reconfigured factories and are becoming more proficient at maintaining output. Panel sentiment was optimistic, an improvement compared to August”, Timothy R. Fiore, Chair of the ISM said. source: Institute for Supply Management