The US ISM Manufacturing PMI rose by 0.4 points to 49.1 in September 2025, remaining in contraction for a seventh straight month but signaling a slightly slower pace of decline.

• New orders fell by 2.5 points to 48.9, returning to contraction after one month of expansion and pointing to weaker near-term demand.

• Production increased by 3.2 points to 51.0, moving back into growth and marking one of the few areas of strength.

• Employment rose by 1.5 points to 45.3, but it continued to contract for the eighth consecutive month as firms reduced head counts.

• Supplier deliveries rose by 1.3 points to 52.6, indicating that delivery times lengthened for the second month in a row.

• Inventories decreased by 1.7 points to 47.7, showing a faster pace of contraction, while customers’ inventories slipped by 0.9 points to 43.7 and remained in “too low” territory for the twelfth straight month.

• Prices fell by 1.8 points to 61.9, but they continued to increase overall for a twelfth consecutive month, led by metals and tariff-related cost pressures.

• Backlogs of orders rose by 1.5 points to 46.2, yet they contracted for the thirty-sixth straight month.

• New export orders dropped sharply by 4.6 points to 43.0, marking a seventh consecutive contraction and reflecting weaker overseas demand.

• Imports fell by 1.3 points to 44.7, extending their contraction for a sixth month in line with softer demand.

• Overall, the PMI result suggests that the manufacturing sector remains under pressure, but the report also noted that the broader US economy continued to grow for a sixty-fifth straight month.