US MANUFACTURING SECTOR EYES RECOVERY IN SEPTEMBER AS PRODUCTION PICKS UP

U.S. manufacturing took a step further towards recovery in September as production picked up and employment rebounded, according to a survey on Monday that also showed prices paid for inputs by factories falling considerably.

The Institute for Supply Management (ISM) said on Monday that its manufacturing PMI increased to 49.0 last month, the highest reading since November 2022, from 47.6 in August. Still, September marked the 11th straight month that the PMI remained below 50, which indicates contraction in manufacturing. That is the longest such stretch since the 2007-2009 Great Recession.

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