Economic Indicator Stagnates: Manufacturers Face Sixth Consecutive Month of Decline
According to the latest data from the Institute for Supply Management (ISM), the manufacturing sector continues to struggle, with the purchasing managers’ index (PMI) holding steady at 47.2 in September. This marks the sixth month in a row that the index has remained in contraction territory, a trend that has persisted for 22 of the last 23 months.
The stagnant reading suggests that manufacturers are still grappling with the challenges that have plagued the industry for nearly two years, leaving many to wonder when a turnaround will come. As the sector continues to feel the pinch, businesses and policymakers alike are keeping a close eye on the PMI, hoping for signs of a rebound.
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