HONG KONG ECONOMY TODAY NEWS (September 2) — U.S. manufacturing activity remained in expansion territory in September, but expansion pace slightly slowed as cost pressures noticeably intensified. The Institute for Supply Management (ISM) reported that the September manufacturing Purchasing Managers' Index (PMI) came in at 54.5, down 0.1 percentage points from 54.6 in August, remaining in expansion territory above 50 for the ninth consecutive month. The new orders index rose to 55.3, up 1.6 percentage points from 53.7 in August, reflecting resilient manufacturing demand.
Notably, the prices index surged from 71.1 to 77.9, reaching a recent high, indicating increasing input costs and inflationary pressures for businesses. ISM data also showed the order backlog index rose to 56.4, suggesting ongoing demand and supply chain pressures. (yc)
Notably, the prices index surged from 71.1 to 77.9, reaching a recent high, indicating increasing input costs and inflationary pressures for businesses. ISM data also showed the order backlog index rose to 56.4, suggesting ongoing demand and supply chain pressures. (yc)
