The PMI declined to 50.4 in September 2026 from 50.7 in August, signaling a third consecutive monthly expansion in construction activity, albeit at a marginal pace. It was the softest expansion in the sequence, with a marginal rise in new orders supported by stronger demand. Employment fell for the first time in 11 months, while delivery times continued to lengthen. Input cost inflation accelerated to a three-month high amid reports of higher fuel and transportation costs.