Manufacturing activity in USA is slowing more sharply than expected in September 2016. The Purchasing Managers’ Index (PMI) dropped from 52.0 points in August to 51.4 points in September, while the markets expected value of 51.9 points. Any level above 50.0 shows expansion in the sector, while values below 50 points report shrinking.
Markit, which prepares the Purchasing Managers’ Index (PMI), indicates a moderate growth in employment and slower expansion in production volumes. The market research company notes that growth in new business activities continued to slow, once in June reported a nine-month high.
In September export orders declined for the first time since May. Overall expansion in new orders was the slowest this year.
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