US private sector's production decreases at slower rate, new...| MENAFN.COM

Monday, 28 November 2022 07:28 GMT

US private sector's production decreases at slower rate, new orders increase in Sep


(MENAFN) Based on the most recent flash purchasing managers' index (PMI) figures issued by the United States-based financial services corporations S&P Global on Friday, in September, United States private sector corporations reported a milder fall in production.

The corporation stated that the headline Flash United States PMI Composite Output Index increased from 44.6 in August to 49.3 in September.

According to a report, "although manufacturers continued to register a slight fall in production, service providers signaled a much slower pace of decline in output."

The Manufacturing purchasing managers' index (PMI), which gauges managers' involvement in the industrial sector, increased marginally by 0.3 point from the previous month to hit 51.8 in September -- the second-lowest result since July two years ago, and a value above 50 denotes sector expansion, whereas a reading below 50 denotes sector decline.

According to S&P Global, private sector companies' new orders received in September moved back into expansionary zone at the quickest pace since May of the current year.

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