By Joshua KirbyActivity among U.S. goods manufacturers continued to contract in September, though at a slower rate as demand strengthened from the previous month. The index of manufacturing activity rose to 49.0 in September from 47.6 in August, the Institute for Supply Management said Monday. The index of new orders rose to 49.2, close to expansion territory, while production improved to 52.5 and employment and inventories also rose, the ISM said. Of the country's largest manufacturing sectors, two booked growth in September, namely the food, beverage and tobacco industries, and petroleum and coal, the ISM said. Most other sectors continued to contract, including computers and electronic products, machinery, chemical products and transportation equipment.

Source: Wall Street Journal October 02, 2023 20:39 UTC