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Data in September: The overall U.S. manufacturing industry grew for 28 consecutive months, but orders in the furniture industry fell the most!Time：2022-10-13 17:10:15
Data in September: The overall U.S. manufacturing industry grew for 28 consecutive months, but orders in the furniture industry fell the most!
Source: furniture maze Release time: 2022-10-11 Original
Guide: In September, the economic activity of the U.S. manufacturing industry increased, and the overall economy achieved its 28th consecutive month of growth. However, the purchasing manager's index (PMI) of the overall manufacturing industry fell to the lowest level since May 2020, and the furniture industry experienced the largest decline in orders.
The latest news from home micro news: According to the latest Manufacturing ISM Report On Business, the economic activity of the U.S. manufacturing industry increased in September, and the overall economy grew for the 28th consecutive month. However, the purchasing manager index (PMI) of the overall manufacturing industry fell to the lowest level since May 2020. In addition, the furniture industry experienced the largest decline in orders.
Manufacturing source: pexels
Compared with August, seven manufacturing industries reported contraction in orders in September. Among them, the furniture and related products industry experienced the largest order contraction, followed by the textile industry, wood products industry, printing and related activities industry, paper products industry, chemicals industry and metal products industry.
Timothy R. Fiore, chairman of the American Institute of Supply Management (ISM), said: "The purchasing managers' index of the U.S. manufacturing industry in September was 50.9%, down 1.9 percentage points from 52.8% in August. This figure shows that the whole economy expanded for the 28th consecutive month after the economic contraction in April and May 2020. However, the purchasing managers' index of the manufacturing industry in September was the lowest level since May 2020, when it was 43.5%."
Other key points of the report are as follows:
The new order index of manufacturing industry in September was 47.1%, 4.2 percentage points lower than 51.3% in August;
The production index of the manufacturing industry in September was 50.6%, 0.2 percentage points higher than the 50.4% in August;
The manufacturing price index in September was 51.7%, 0.8 percentage points lower than the 52.5% in August. This is the lowest level of the index since June 2020 (51.3%);
The order backlog index of manufacturing industry in September was 50.9%, 2.1 percentage points lower than 53% in August;
The employment index of manufacturing industry in September was 48.7%, 5.5 percentage points lower than 54.2% in August.
"The U.S. manufacturing industry continues to expand, but its growth rate is the lowest level since the economic recovery began under the background of the epidemic. After manufacturing companies reported weak new order rates for four consecutive months, the index in September reflects that manufacturing companies are adapting to the potential decline in demand in the future." Timothy Fiore added.
Extended reading: American furniture manufacturers were in trouble again in August, and new orders fell again!
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