US PMI indices for September were released today at 2:45 pm BST. Report was watched closely as it was a flash release and European PMIs released earlier today were inconclusive. Market expected a small uptick in manufacturing and services indices with the former staying below the 50 points threshold and the latter remaining above.
Actual report showed a bigger-than-expected improvement in manufacturing index and an unexpected drop in services reading. Nevertheless, key takeaway is unchanged - manufacturing remains in recession while services continue to expand.
US, PMI indices for September
- Manufacturing: 48.9 vs 48.0 expected (47.9 previously)
- Services: 50.2 vs 50.6 expected (50.5 previously)
- Composite: 50.1 vs 50.4 expected (50.2 previously)
USD weakened following the release with EURUSD moving around 0.1% in the first minutes following the release. Indices barely saw any reaction.

Source: xStation5
Daily summary: A week closed with declines – is the market starting to fear inflation?
Economic Calendar: Global Data Focus Shifts to US and Canada,
Market Wrap: What does Trump's Beijing visit mean for the markets?
Economic Calendar: All eyes on US consumer 🇺🇸 (14.05.2026)