This week’s ADP National Employment report showed that U.S. private companies added 749,000 jobs in September, beating Wall Street estimates. As noted by the National Association of Manufacturers’ chief economist Chad Moutray, manufacturing employment jumped by 130,000 in September, increasing for the fifth straight month.
Meanwhile, the manufacturing index from the Institute for Supply Management came in below expectations in September, but remained in positive territory at 55.4%. The Manufacturing Outlook Index published by OMA Connections Partner RSM rose for the second month in a row. 9/30/2020