US final Sept S&P Global manufacturing PMI 49.8 vs 48.9 prelim

<ul><li>Prelim was 48.9</li><li>Prior was 47.9</li><li>New orders fell for the fifth month running in September,
albeit at the slowest pace in this period</li><li>Expectations for future output also rose, hitting the
highest since April 2022</li><li>Production returned to expansion</li></ul><p>Chris Williamson, Chief Business Economist at S&amp;P
Global Market Intelligence, said:
</p><blockquote>"September saw a welcome near-stabilization of business
conditions in manufacturing, but a further increase in
price pressures is a concern on the inflation front.
“</blockquote><blockquote>Output reversed some of the loss seen in August as
higher employment and improved supply availability
helped factories fulfil backlogs of orders.
“Although the pace of production growth remains
disappointingly subdued thanks to a further decline in
new orders received during the month, notably from weak
export markets, there are signs that the situation will
improve as we head through to the end of the year.
</blockquote><blockquote>“Manufacturers’ expectations of future output have
jumped to their highest for nearly one and a half years,
supply conditions continue to improve, and the rate of
order book decline has moderated considerably in recent
months, in part due to fewer producers and customers
reporting deliberate cost-focused inventory reduction
policies.
</blockquote><blockquote>“Less encouraging was the news on the inflation outlook,
as producers’ costs rose at the fastest rate for five
months, largely on the back of higher oil prices. These
increased costs are already feeding through to higher
prices to customers, which will inevitably result in some
renewed upward pressure on inflation.”</blockquote><p>The ISM reading is due at the top of the hour.</p><p>I've been writing for months about a likely end to the manufacturing recession and it's increasingly clear in the data.</p>

This article was written by Adam Button at www.forexlive.com.