Purchasing Managers Index (PMI) Falls Unexpectedly, Signaling Economic Slowdown
PMI Data Decline
The Purchasing Managers Index (PMI) in the United States has unexpectedly fallen to 47.4 in September 2023, indicating a contraction in the manufacturing sector.
This marks the first time the PMI has fallen below the 50-point threshold since June 2020, signaling a potential slowdown in economic growth.
Key Findings
- PMI declined to 47.4 in September 2023, signaling a contraction in manufacturing.
- The decline is unexpected and marks the first time the PMI has fallen below 50 since June 2020.
- The data suggests a potential slowdown in economic growth.
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