ISM Manufacturing Still Showing Expansion, Prices Paid Falls

- ISM Manufacturing for September fell to 52.0 versus estimates of 52.6 and 52.9 in August.

- ISM Prices Paid for September fell to 59.0 versus estimates of 62.0 and a reading of 63.0 in August.

BOTTOM LINE: Manufacturing in the US grew in September, Bloomberg reported. Stronger growth overseas and a weaker dollar have propelled exports, providing a source of strength that is boosting manufacturing. The New Orders component of the index fell to 53.4 from 55.3 the prior month. The Prices Paid component fell to 59 from 63 the prior month. The Unfilled Orders component rose to 51 from 50.5 the prior month. The Inventory component fell to 41.6 from 45.4 the prior month. The Employment Component of the index rose to 51.7 from 51.3 the prior month. I continue to believe manufacturing will help boost overall US growth over the intermediate-term as companies gain confidence in the sustainability of the current expansion and rebuild depleted inventories.