Global Manufacturing Growth
Spain Records Employment Gains While Global Manufacturing Expands Despite Rising Cost Pressures
Anonymous
Key Points
1
The ISM put U.S. manufacturing activity at 54.5% in September, down 0.1 percentage point from August, while the separate S&P Global PMI rose two points to 55.9.
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Five of the six largest U.S. manufacturing industries expanded in September, including computer and electronic products, food and beverage, transportation equipment, machinery, and chemical products.
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In Colombia, manufacturers substantially increased purchasing and raised purchase inventories for a fourth month, while finished-goods inventories continued to fall as companies drew on stocks to meet stronger sales.
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Spain’s export orders increased for the first time since August 2025, even as total new orders declined for a fifth consecutive month.
Manufacturing expanded across the United States, Colombia, and Spain in September, driven by stronger hiring and new orders. Institute for Supply Management reported U.S. factory activity at 54.5%, marking a ninth consecutive month of growth, while S&P Global put the broader measure at 55.9%. Spain added nearly 109,000 jobs and saw manufacturing return to expansion for the first time in months, though cost pressures and weak overall demand tempered the gains.
The three countries showed resilience despite lingering inflation concerns and uncertainty. Trade Economics showed Colombia's manufacturing PMI rose to 54.6 in September from 54.3 in August, the strongest pace since October 2025. Spanish manufacturers reported their most confident outlook since February, expecting demand to strengthen over the next year.
U.S. Manufacturing Expands Despite Rising Cost Pressures
The U.S. manufacturing sector grew for the ninth straight month in September. Manufacturing Dive reported the ISM Purchasing Managers' Index at 54.5%, down just 0.1 point from August. The S&P Global PMI climbed two points to 55.9, showing stronger momentum. Five of the six largest manufacturing industries expanded: computer and electronic products, food and beverage, transportation equipment, machinery, and chemical products.
New orders and employment both improved in September, yet prices spiked sharply. Manufacturers cited concerns about inflation and trade-related disruptions. The prices index rose significantly, signaling that cost pressures remain a major challenge for U.S. factories heading into the final months of the year.
Spain's Labor Market Strengthens After Year of Declines
Spain recorded a seasonally adjusted employment gain of 108.8K in September, according to Business Upturn. This marked a sharp increase from August's 83.8K gain. Registered unemployment rose by 23.6K, a slower pace than the previous month. The government's worker-regularization process contributed to both employment gains and unemployment increases as workers moved from informal to formal status.
Spanish manufacturing returned to expansion after months of contraction. Production and export orders grew, and employment stabilized after a full year of falling headcount. International Journal Review reported that export orders increased for the first time since August 2025, even as total new orders declined for a fifth consecutive month. Manufacturers cited energy-driven cost increases as a drag on profitability.
Colombia Boosts Inventories Despite Supply Chain Pressure
Colombia's manufacturing PMI climbed to 54.6 in September from 54.3 in August, according to Trading View. Factory output rose for a fifth consecutive month. Manufacturers substantially increased purchasing and raised finished-goods inventories for the fourth month running, drawing on stocks to meet stronger sales demand.
Input-cost inflation eased compared to prior months, offering relief to Colombian factories. However, earthquake-related disruptions slowed supplier deliveries and added operational friction. The overall momentum reflected growing confidence that demand would continue to strengthen through the end of the year.
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