Purchasing Managers' Index- September 2015
PMI rose to 53.3 in September: Sub-indexes offered mixed picture
- The PMI rose from 53.2 in August to 53.3 in September, mainly with support from the employment sub-index. Despite the increase of one tenth, the average for July to September shows that the growth rate was lower than in the first half of 2015. However, if the third quarter alone is compared with the same period in 2014, industrial activity has strengthened.
- The sub-index for new orders fell by 0.1 points to 54.5 in September, producing a neutral contribution to the PMI. It was mainly the export market that seemed to perform better, with the index strengthening from 51.5 to 52.4 in September. Domestic orders rose as well, with an index reading of 51.4. While current orders may signal good demand, the sub-index for supplier delivery times fell to 45.4. The last time this sub-index was below 50 was in July 2013.
- The production sub-index fell from 55.3 to 55.0 in September, but a picture of steady growth persists. The fact that the sub-index for employment at the same time strengthened by 5.0 points to 55.5 signals increased hiring needs, which could dilute earlier signs of rising productivity.
- The index for prices of suppliers’ commodity and intermediate goods fell by 8.2 points, from 48.9 to 40.7 in September. Prices fell broadly, with the biggest declines in metals and energy-related commodities and intermediate goods.
PMI September 2015