U.S. September manufacturing PMI preliminary 52.0…below market expectations

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Summary

The U.S. September manufacturing preliminary PMI was 52.0, below market expectations.
A PMI reading above 50 means economic expansion, and below 50 means economic contraction.
The preliminary PMI is said to be an important indicator for quickly assessing economic conditions.

The U.S. September manufacturing Purchasing Managers' Index (PMI) fell short of expectations.

On the 23rd (local time), S&P Global's preliminary manufacturing PMI was 52.0, below Wall Street's expectation (52.2).

The Purchasing Managers' Index (PMI) uses 50 as the baseline to gauge expansion or contraction of business conditions. A PMI above 50 indicates economic expansion, and below 50 indicates economic contraction.

The preliminary PMI is released before the final PMI announced at the end of the month and is used as an indicator to quickly assess economic conditions.