S&P Global preliminary manufacturing PMI fell to 54.1 in September from 54.9 in
August, indicating slower but still robust expansion. Output growth slipped to a
near three-month low and new orders growth eased to a four-month low, though
both remained in expansion for a ninth consecutive month. New export orders
stayed strong, leaving overseas demand supportive. Business confidence rose to
its highest since February, driven by demand in AI, semiconductors, defense and
autos. Employment continued to increase, lifting private‑sector employment
growth to a seven‑month high. Firms said cost pressures eased slightly overall
but flagged weak yen, Middle East tensions pushing up energy and commodity
prices, and rising labor and transport costs.
