U.S. manufacturing activity contracts for the sixth straight month
By Greg Robb
ISM PMI holds steady at 47.2% in September, below forecast 47.5%
Story developing. Stay tuned for updates here.
The numbers: The Institute for Supply Management on Tuesday said its manufacturing PMI, a closely-watched measure of U.S. manufacturing activity, held steady at 47.2 in September.
This is the sixth straight month below the 50 threshold, indicating a continued contraction of activity. The ISM index has been below 50 for six straight months.
Economists surveyed by the Wall Street Journal had forecast the index to inch up to 47.5%.
Market reaction: Stocks DJIA SPX opened lower on Tuesday while the 10-year Treasury yield BX:TMUBMUSD10Y was down to 3.719% in early morning trading.
-Greg Robb
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10-01-24 1002ET
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