10142019Mon
Last updateFri, 11 Oct 2019 2pm

Consumer Price Index Unchanged in September

The Consumer Price Index was unchanged in September on a seasonally adjusted basis after rising 0.1% in August, the U.S. Department of Labor reported. Over the last 12 months, the all items index increased 1.7% before seasonal adjustment.

Increases in the indexes for shelter and food were offset by declines in the indexes for energy. The energy index fell 1.4% as the gasoline index declined 2.4%.


Global Manufacturing Contracts for Fifth Straight Month

The global manufacturing sector deteriorated further in September but edged closer to stabilization. This was signaled by the J.P.Morgan Global Manufacturing PMI, which rose for the second month running to 49.7. Although still below the neutral mark of 50.0 that separates improvement from deterioration, it was the highest reading since May.

Global manufacturing production was broadly stagnant in September, as reduced intakes of new business discouraged any meaningful expansion of output volumes. The trend in international trade flows also remained weak, as new export orders declined for the thirteenth consecutive month. The U.S., China, Germany and Japan were among the many nations to report a decrease in new export business.

Texas Manufacturing Expansion Continues in September

Texas factory activity continued to expand in September, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, fell four points to 13.9, suggesting output growth continued but at a slightly slower pace than in August. Other measures of manufacturing activity also suggested slightly slower expansion in September. Perceptions of broader business conditions remained positive in September. The general business activity index came in at 1.5, a second positive reading in a row.

U.S. Adds 136,000 Jobs, Unemployment Rate at 50-Year Low

The unemployment rate declined 0.2% to 3.5% in September and total nonfarm payroll employment rose by 136,000, the U.S. Department of Labor reported. The 3.5% figure is the lowest since December of 1969. Employment in health care and in professional and business services continued to trend up. The manufacturing sector was quiet in September in terms of hiring.

ISM: Manufacturing PMI Lowest in a Decade

 Manufacturing contracted in September, as the PMI registered 47.8%, a decrease of 1.3% from the August reading of 49.1%. This is the lowest reading since June 2009, the last month of the Great Recession, when the index registered 46.3%.

“The PMI contracted for the second straight month. The contraction continues six straight months of softening in manufacturing. Only one of the PMI sub-indexes (supplier deliveries) registered at a level associated with expansion. Two of the six big industries expanded, and four contracted,” says Timothy R. Fiore, Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee.

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