Purchasing Managers Index (PMI) Falls Unexpectedly, Signaling Economic Slowdown

PMI Data Decline

The Purchasing Managers Index (PMI) in the United States has unexpectedly fallen to 47.4 in September 2023, indicating a contraction in the manufacturing sector.

This marks the first time the PMI has fallen below the 50-point threshold since June 2020, signaling a potential slowdown in economic growth.

Key Findings

• PMI declined to 47.4 in September 2023, signaling a contraction in manufacturing.
• The decline is unexpected and marks the first time the PMI has fallen below 50 since June 2020.
• The data suggests a potential slowdown in economic growth.