The MTSI Manufacturing PMI Composite was unchanged at -0.31 in September, a manufacturing conditions generally remained in a slight contraction with 5 out of 9 PMIs reported.

• The Shipments and New Orders indexes both declined, to -0.31 and -0.49, respectively, pointing to slightly weaker demand conditions.
• The Production index remained near the long-term average at 0.01, an improvement over weak conditions over the last two years.
• The Employment index fell slightly, remaining moderately negative at -0.37.
• Inflationary pressures looked to have peaked with the Prices Paid index down -32 bps to 0.64 and the Prices Received index down -50 bps to 0.42.