We’re about to find out how America’s manufacturing sector performed in September.
Markit Economics and the Institute of Supply Management (ISM) will release their purchasing manager’s indexes (PMI) at 9:45 a.m. and 10:00 a.m. ET respectively.
Economists forecast Markit’s index at 53.0, unchanged from August, and ISM’s index at 50.6, down from 51.1 in the prior month.
In September, all seven regional manufacturing surveys fell into contraction. And according to TD Securities, US manufacturing is in recession.
“The broadening across geographical regions and industries suggest that the weakness has moved beyond the energy-sensitive areas,” Millan Mulraine wrote in a note to clients on Wednesday. “Nevertheless, we have no reason to believe that the US economy is in, or nearing, another recession.”