The U.S. manufacturing sector grew for the second consecutive month in September but lower than expected by most analysts, the Institute of Supply Management said Thursday. The institute said its index of the factory sector, also known as the purchasing managers index, fell to 52.6 percent from 52.9 percent in August. Any number above 50 indicates growth. But, the figure was still lower than the average economist estimate of 54.0 percent. Although the manufacturing sector grew for the second consecutive month, “the rate of growth moderated slightly when compared to August,” said Norbert Ore, chairman of the Institute for Supply Management manufacturing business survey committee. He said the recovery broadened as the number of industries reporting growth increased from 11 to 13. Both new orders and production grew, but at a slower rate when compared to August. “It appears the fundamentals for continuing recovery are still at work as inventories and sales are gaining balance,” he said.
