The ISM Manufacturing PMI edged down to 54.5 in September 2026 from 54.6 in August, compared to forecasts of 55. Still, the reading continued to point to robust growth in the manufacturing sector, with new orders (55.3 vs 53.7) and employment (52.7 vs 51.2) rising at a faster pace while production slowed slightly (56.7 vs 58.3).