AI Data Insight
In Q3 (September) 2026, the US ISM Manufacturing Backlog of Orders Index jumped significantly to 56.4, a notable increase from the previous 51.8, hitting the highest level since February of this year. Although the overall Manufacturing PMI edged down to 54.5, falling short of market consensus expectations, the simultaneous rise in both the backlog of orders and new orders indicates that underlying demand remains strong. However, the surge in the Prices Paid Index has sparked market concerns over high inflation and prolonged supply chain delivery times, which could subsequently influence the Federal Reserve's policy direction.