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The Institute for Supply Management released its manufacturing purchasing managers' index for the U.S. on Thursday. The index declined to 50.2 in September from 51.1 in August, missing expectations for a fall to 50.6. It was the lowest level since May of 2013.
A reading above 50 indicates expansion, below indicates contraction.
The decline was partly driven by a fall in production. The production index declined to 51.8 in September from 53.6 in August.
The new orders index dropped to 50.1 in September from 51.7 in August.
The employment index was down to 50.5 in September from 51.2 in August.
The price index declined to 38.0 in September from 39.0 in August.
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