US: ISM Manufacturing PMI declines to 55.4 in September vs. 56.3 expected

• ISM Manufacturing PMI declined slightly to 55.4 in September.
• US Dollar Index is virtually unchanged on the day near 93.80 after the data.

The economic activity in the US' manufacturing sector expanded at a softer pace in September than it did in August with the ISM's Manufacturing Purchasing Managers' Index (PMI) edging lower to 55.4 from 56. This reading came in worse than the market expectation of 56.3

Further details of the publication revealed that the Prices Paid Index rose to 62.8, the highest reading since October 2018, from 59.5, the New Orders Index declined to 60.2 from 67.6 and the Employment Index improved to 49.6 from 46.4.

Market reaction

The US Dollar Index largely ignored this report and was last seen staying flat on the day at 93.81.