Manufacturing growth slows in September
Oct 04, 2010 | 12:30 PM
The industrial economy continued to show growth in September with a 14th consecutive gain, although the pace slowed from a month earlier as manufacturing production, new orders, order backlogs, exports and employment all declined.
The Purchasing Managers Index (PMI) fell 1.9 points month on month to 54.4 percent in September, according to data from the Institute for Supply Management (ISM). The PMI is now off 11.5 points from its cyclical high of 65.9 percent in January.
Pricing jumped 9 points and inventories rose 4.2 points during September, according to the data.
ISM members reported aluminum, copper and stainless steel prices were up, while carbon steel prices showed mixed moves depending on the product.....
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