Manufacturing Index Drops to Lowest Level Since May 2022

Last month, U.S. manufacturing growth slowed to its lowest point in two years, nearing stagnation due to a decline in orders, according to the Institute for Supply Management’s latest survey. At 50.9%, the September Manufacturing PMI dropped below expectations, while manufacturing employment contracted for the fourth time this year.

On a positive note, U.S. manufacturing’s annual output soared to a new all-time high of $2.77 trillion in Q2. Ohio’s seasonally adjusted annual manufacturing GDP reached a record $128.76 billion for the same period. 10/4/2022