(IHS Markit) US Composite Output Index was 54.5 in September, a decline from 55.4 in August. The output index was at a 12-month low as activity was hampered by slowdowns in the service sector.
Fig: US PMI
The Service Business Activity Index was at a 14-month low of 54.4, from 55.1 in August.
The Manufacturing PMI hit a 5-month low of 60.5, down from 61.1 in August. Manufacturing Output Index was at 55.2, an 11-month low, from 56.7 in August.
New order growth eased and was the lowest since August 2020, fueled by dampened activity, especially in the service sector due to ongoing Covid-19 restrictions. Backlog of work increased as challenges of hiring rose.
Input costs increased at the fastest rate in September, with inflation the second-highest on record due to supply chain constraints.
Business optimism was robust as firms project easing of supply chain bottlenecks and improved demand.
SPY is up +1.19%, DXY is down -0.45%.
