U.S. manufacturers have been weathering the effects of rising interest rates, a strong dollar and a slowing global economy remarkably well. For some of them, at least, that probably can’t continue.
The Institute for Supply Management on Monday reported that its index of manufacturing activity slipped to 50.9 in September from 52.8 in August. But for the 28th month in a row it was above 50—the cutoff between manufacturing contraction and growth. Likewise, a manufacturing index from S&P Global showed U.S. activity continued to grow last month.