Manufacturing Survey Strongest Since May 2022 On AI Spend, Prices Paid Spike

US manufacturing surveys for September point to solid momentum, with price pressures jumping alongside new orders. S&P Global’s final September US Manufacturing PMI slipped versus its preliminary reading, but stayed the strongest since May 2022. ISM’s September factory survey also eased at the headline level to 54.5 from 55.0 expected, yet remains near multi-year highs. The report cites faster growth as new orders accelerated, boosting output and hiring. Order backlogs and supplier activity rose, especially for machinery and equipment tied to AI spending, while export orders continued falling for the 15th straight month. “Prices Paid” surged, and New Orders and Employment rebounded.