September growth for US manufacturing, fifth straight month

SILVER SPRING, Md. (AP) — U.S manufacturing grew at a slightly slower pace last month, as it continues to rebound from spring’s coronavirus recession. The Institute for Supply Management, an association of purchasing managers, said Thursday that its manufacturing index fell to 55.4 in September from 56 in August. Anything above 50 signals growth, and U.S. manufacturing has been expanding for five straight months. The ISM reported that new orders and production grew in September, though at a slower pace. Employment contracted for the 14th straight month, though with a reading of 49.6, came very close to expansion for the first time since July 2019.