U.S.September Composite PMI preliminary reading rises to 58.4, with price and order indicators strengthening

AT A GLANCE

US September composite PMI preliminary reading rose to 58.4, with the report also saying that price indicators rose and inflationary pressures intensified.

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⚡️US inflationary pressures heat up again,September composite PMI rose to 58.4, hitting a 5-plus-year high

BlockBeats news,September 23, S&P Global data showed that the US September composite PMI output preliminary reading rose to 58.4, significantly above August's 56.0, reaching a 2021-year high since July, indicating that manufacturing and services activity both expanded significantly. The New Orders Index rose from 55.2 to 58.2, its highest level since 2022 year March.

Strong demand drove the volume of companies' outstanding orders to 2022 year May-year high since. S&P Global said that order backlogs indicate, on the one hand, that future output and capacity will expand further, while on the other hand they also mean that companies' pricing power is strengthening, which could intensify inflationary pressures.

Price indicators also rose significantly, with the Input Purchase Prices Index rising from 59.9 to 66.4, reaching a 2022-year high since October. S&P Global pointed out that supply-chain delays and insufficient operating capacity are driving up business costs, with the extent of supplier delivery-time extensions reaching the broadest level since 2022 year July.

After the data was released, spot gold fell below 4300 USD, the Index rose above 101, and US Treasury yields climbed further, with the 10-year US Treasury yield returning above 5%. The Federal Reserve raised the benchmark interest rate by 25 basis points last week to 3.75%to 4.00%, and signaled that it may continue raising rates over the coming months.

Original link https://m.theblockbeats.info/flash/368693

Key points

S&P Global data show that the U.S.September composite PMI output preliminary reading was 58.4, above the August. 56.0。
The new orders index rose from 55.2 to 58.2。
The business input purchase price index rose from 59.9 to 66.4。
S&P Global said that the volume of companies' outstanding orders rose to its highest level since 2022 year May.
The report said that after the data was released, spot gold fell below 4300 USD, while the index rose above 101，10-year US Treasury yield returned above 5%.
Reports said that the Federal Reserve raised the benchmark interest rate last week by 25 basis points to 3.75% to 4.00%。

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

Composite PMI Used to describe manufacturing and services activity. A rise in the value indicates that the expansion of related business activity is accelerating; at the same time, rising input prices and backlogs of orders, according to S&P Global, may increase corporate costs and inflationary pressures.

Why it matters to readers

The text simultaneously presents an expansion in economic activity and rising price pressures. The report also mentions gold, USD index and changes in U.S. Treasury yields after the data release.

Beginners may wish to pay particular attention to PMI, procurement prices and interest rates: they respectively reflect commercial activity, corporate costs, and the price of funds, but a single initial reading cannot independently determine subsequent trends.

Risks and unknowns

Composite PMI as the preliminary value; whether it will be revised later is unknown.
The material only provides a BlockBeats account; the relevant data, market levels, and interest rate information have not been independently verified.
Whether the data release has a direct causal relationship with gold, USD index and changes in U.S. Treasury yields cannot be confirmed.
Whether interest rates will continue to rise over the next few months remains uncertain.

U.S.September Composite PMI preliminary reading rises to 58.4, with price and order indicators strengthening

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