ISM manufacturing index rises to 61.1 in September

MW ISM manufacturing index rises to 61.1 in September

By Greg Robb

Price index also jumps, reflected broad gains across industries

The numbers: The Institute for Supply Management's manufacturing index rose to 61.1% in September from 59.9% in the prior month, the Institute for Supply Management said Friday.

Any reading above 50% indicates improving conditions. Economists polled by the Wall Street Journal expected a reading of 59.5%.

A separate index on prices rose 1.8 percentage points to 81.2%.

Big picture: Demand is still strong but manufacturers are struggling with supply shortages. Survey participants talked about an "unprecedented number of hurdles to meet" rising demand.

Seventeen industries reported growth in September while only one reported a decrease. Seventeen industries also reported an increase in prices.

A separate survey by IHS Markit showed its manufacturing PMI dropped to a five-month low of 60.7 in September, down from 61.1 in August. The "flash" estimate was 60.5.

Market reaction: U.S. stocks moved higher after the ISM report.

-Greg Robb

$(END)$ Dow Jones Newswires

October 01, 2021 10:11 ET (14:11 GMT)

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