The US manufacturing sector contracted less than expected in September, according to the Institute for Supply Management s manufacturing index. Despite the ongoing weakness in new orders, the index came in at 49%, higher than the median expectation of economists. This marks the 11th consecutive month of contraction in the sector, but the rate of contraction has slowed.
(Bloomberg) A measure of US factory activity contracted in September by the least in nearly a year, offering hope that the worst may be over for the nation’s producers.Most Read from BloombergWhy a US Recession Is Still Likely — and Coming SoonAirbnb Is Fundamentally Broken, Its CEO Says. He Plans to Fix It.Severe Crash Is Coming for US Office Properties, Investors SayStocks Lose Footing as Treasury Yields Surge: Markets WrapThe Secret Plot Against the Head of the World Health OrganizationThe