The index value still exceeded the 52.8 average in September during the previous three years. The unadjusted index was 59.5 in September, rising from 54.0 in August. Average PMI for January-September was 54.2, well over the 52.1 average value during the same period in the previous three years. A PMI over 50 reflects an expanding manufacturing sector and a PMI under 50 means the sector is contracting. Among the indices which comprise the index, new order volume was 57.2, up 1.2 from July, and production volume fell 5.2 to a still high 54.1. The employment index was unchanged at 51.7, reflecting increasing employment for the seventh month in a row. The transport time index fell 1.3 to 48.9 from August to September, and the purchased inventories index rose 1.2 to 57.1. Among the indices which Halpim publishes but does not include in the PMI, the indicator for the stock of finished goods fell 0.8 to 51.9 from August to September. The export volume index rose 5.0 to 65.0, exceeding the import index, which rose 1.2 to 56.0. The purchase price index fell 2.2 to 71.9, but was still well over the level during the same month in the previous three years, and the purchase volume index rose 3.5 to 56.6. (Mti-Eco)
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