Economy

ISM US Manufacturing PMI Accelerates in September

ISM US Manufacturing PMI Accelerates in September”

Workers assemble built-in appliances at the Whirlpool manufacturing plant in Cleveland, Tennessee August 21, 2013.

Institute For Supply Management or ISM Manufacturing Index for September will be revealed at 10.00 am ET.

The key is to pay close attention to the Employment component, if we see a strong increase compared to the prior reading and its above 50, then the market should react positively to the United States dollars.

The employment index ticked up to from 59.9 a month earlier, against forecasts for a reading of 58.0.

Growth was driven by new orders, the index for which jumped to 64.6 from 60.3 in August.

The supplier deliveries index also surged up to 64.4 in September from 57.1 in August, while the inventories index dropped to 52.5 from 55.5.

On the inflation front, the prices index spiked to 71.5 in September from 62.0 in August, indicating a notable acceleration in the pace of price growth. That suggests higher raw materials prices for the 19th consecutive month. Anything above 50 signals that manufacturers are growing, and the ISM survey shows they've been on a 13-month winning streak.

Meanwhile, the S&P 500 Futures traded 0.9 percent lower at 2,518.25 by 13:20GMT, while at 13:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 70.24 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend).



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