US factory activity slows less quickly in September, ISM says

(Sharecast News) - Activity levels in America's factory sector continued to shrink last month, albeit at a slower pace than in August, the results of a closely followed survey revealed. The Institute for Supply Management's manufacturing sector Purchasing Managers' Index increased from a reading of 47.6 for August to 49.0 in September.

August's print had been revised lower from a preliminary reading of 48.5.

In any case, the 50 point level was the threshold separating an expansion from a contraction.

Subindices for production and new orders both improved, from 50 to 52.5 and from 46.8 to 49.2, respectively.

A sub-index tracking employment also strengthened, from 48.5 to 51.2.

Price pressures on the other hand fell back with the corresponding sub-index for prices paid retreating from 48.4 to 43.8.

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