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News & Views

Provided by the Investment Professionals of Frost Investment Advisors | October 10 , 2022

Services Sector Strength Delaying Recession as Fed Continues on Stated Path

ISM Surveys Indicate Services Economy Expanding While Manufacturing Weakens

Manufacturing sector: The ISM U.S. manufacturing index fell again in September to 50.9 (down from 52.8 in August). That’s well below expectations – the segment is growing, but at a very slow pace. In the same report, new orders contracted to 47.1 (down from 51.3 in August), the third contraction in four months. That reflects weak demand and foreshadows a further slowing of the economy.

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