Happy Every Economic Statistic in the World Day! 4. Manufacturing continued to expand strongly in September

Happy Every Economic Statistic in the World Day! 4. Manufacturing continued to expand strongly in September

This morning’s final economic report is the ISM manufacturing index for September.

This is a short leading indicator, and the new orders subindex specifically is one of the 10 components of the Index of Leading Indicators.

A neutral reading is 50. The overall index came in at 55.4, and the new orders subindex came in at 60.2:

So while the Index pulled back a little bit from August’s levels, it was still a very strong positive.

Again, this is evidence that the economy “wants” very much to expand smartly in the near future, if only the pandemic can be brought under control.

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