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Purchasing Managers Index: Difference between revisions
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* Backlog of Orders Index registered 42.4 percent, 1.7 percentage points lower than the August reading of 44.1 percent. | * Backlog of Orders Index registered 42.4 percent, 1.7 percentage points lower than the August reading of 44.1 percent. | ||
* Employment Index registered 51.2 percent, up 2.7 percentage points from the 48.5 percent reported in August. | * Employment Index registered 51.2 percent, up 2.7 percentage points from the 48.5 percent reported in August. | ||
==== Services ==== | |||
In September, the Services PMI registered 53.6 percent, a 0.9-percentage point decrease compared to the August reading of 54.5 percent. A Services PMI above 49.9 percent, over time, generally indicates an expansion of the overall economy. Therefore, the September Services PMI<sup>®</sup> indicates the overall economy is growing for the ninth consecutive month after one month of contraction in December 2022. Thirteen industries reported growth in September. '''The past relationship between the Services PMI and the overall economy indicates that the Services PMI for September (53.6 percent) corresponds to a 1.3-percent increase in real gross domestic product (GDP) on an annualized basis.'''<ref>https://www.ismworld.org/supply-management-news-and-reports/reports/ism-report-on-business/services/september/</ref> | |||
“There has been a slight pullback in the rate of growth for the services sector, which is attributed to slower rates of growth in the New Orders and Employment indexes. The majority of respondents remain positive about business conditions; moreover, some respondents indicated concern about potential headwinds.” | |||
* The Business Activity Index registered 58.8 percent, a 1.5-percentage point increase compared to the reading of 57.3 percent in August. | |||
* The New Orders Index expanded in September for the ninth consecutive month after contracting in December for the first time since May 2020; the figure of 51.8 percent is 5.7 percentage points lower than the August reading of 57.5 percent. | |||
* The Prices Index registered 58.9 percent in September, matching its August reading. | |||
* The Backlog of Orders Index registered 48.6 percent, a 6.8-percentage point increase compared to the August figure of 41.8 percent. | |||
* The Employment Index registered 53.4 percent, down 1.3 percentage points from the August figure of 54.7 percent. | |||
=== August 2023 === | === August 2023 === | ||