(IHS Markit) US posted a manufacturing PMI of 60.7 in September, a five-month low, and below 61.1 in August as material and labor shortages constrained activity.
Fig: US Manufacturing PMI
Demand was strong, with net sales rising strongly and new order growth remaining on an uptrend. Backlogs of orders rose at a series record rate.
New export orders rose at the fastest rate in four months, fueled by robust foreign client demand.
Input cost inflation softened from the August series record, leading to price hikes by firms that pushed output charge price pressures to the fastest on record.
Output expectations hit a four-month low in September, with firms reporting concerns of raw material availability.
SPY is up +0.11%, DXY is down -0.18%.
