Raw materials price index surges to 77.9, adding to cost pressures
US manufacturing activity expanded for a ninth consecutive month in September, though the pace of growth eased slightly.
The Institute for Supply Management said Thursday (local time) that its manufacturing purchasing managers index fell 0.1 point from the previous month to 54.5 in September.
The reading remained above the 50-point threshold separating expansion from contraction, keeping the sector in growth territory for nine straight months since January. Analysts attributed the resilience to investment in AI infrastructure, solid domestic demand and defense spending.
However, rising energy prices and supply chain bottlenecks have increased cost burdens for manufacturers even as demand remains strong.
The prices index, which tracks cost pressures on manufacturers, jumped 6.8 points to 77.9 from 71.1 the previous month.
yckim6452@heraldcorp.com
