Manufacturing growth slows in September

By Charles Riley, staff reporter


NEW YORK (CNNMoney.com) -- The manufacturing sector expanded for the 14th straight month in September, but at a slower pace than the previous month, said a purchasing managers group Friday.

The Institute for Supply Management's manufacturing index slipped to 54.4 in September, from 56.3 in August. The amount fell short of the 54.8 reading expected in a Briefing.com consensus of economists.

While any reading above 50 signals growth, the index has slipped in recent months and the slowdown has worried some.

"The manufacturing recovery has clearly lost a lot of momentum since the spring," wrote Paul Ashworth, a senior economist at Capital Economics, in a note to clients.

Pointing out that new orders were down to a 15-month low, Ashworth characterized the growth as "tepid." He said that economists, who put a premium on the number of new orders, will be "pretty disappointed" by the report.

Economists' reactions will stem from a decrease in several key measurements. ISM reported drops in new orders, production, employment and supplier deliveries.

"But it's not a disaster," Ashworth said, noting that the report is consistent with GDP growth of more than 3%. To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 25,409.36 -357.28 -1.39%
Nasdaq 8,567.37 0.89 0.01%
S&P 500 2,954.22 -24.54 -0.82%
Treasuries 1.13 -0.17 -13.24%
Data as of 5:34am ET
Company Price Change % Change
Ford Motor Co 8.29 0.05 0.61%
Advanced Micro Devic... 54.59 0.70 1.30%
Cisco Systems Inc 47.49 -2.44 -4.89%
General Electric Co 13.00 -0.16 -1.22%
Kraft Heinz Co 27.84 -2.20 -7.32%
Data as of 2:44pm ET
Sponsors

Sections

Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More

Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.