FX.co ★ U.S. Manufacturing Momentum Eases Slightly as ISM PMI Dips to 54.5 in September

The U.S. manufacturing sector showed a marginal loss of momentum in September, with the ISM Manufacturing PMI edging down to 54.5 from 54.6 in August 2026. Despite the slight dip, the indicator remains firmly above the 50-point threshold that separates expansion from contraction, signaling continued growth in industrial activity.

The near-unchanged reading suggests that while the pace of expansion has softened slightly, overall conditions in the manufacturing sector remain broadly supportive. The modest shift from August’s 54.6 level indicates that demand and production have largely held steady, even as manufacturers navigate ongoing cost pressures and potential supply-side constraints.

Data were updated on 1 October 2026, confirming that the manufacturing recovery in the United States is intact, though showing early signs of plateauing rather than accelerating further.