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Financial data firm Markit said its U.S. Manufacturing Purchasing Managers Index declined to 52.8 in September from 53.1 in August. The employment component also declined to a 3-month low. Markit said that demand for products fell and companies hired fewer workers.
The Stock markets are trading lower this morning as the luster of last week’s Fed statement revealed that the central bank will not be pulling back on its current stimulus program this month. The Bond markets begin the week to the upside as the Federal Reserve’s monetary policy statement hinted towards a slowing economy.
Filling up at the gas pump has become a bit cheaper since the summer driving season ended. The national average price for a regular gallon of gasoline is at $3.47, a nickel lower since last Monday. Prices could dip a bit lower as demand decreases and as refineries switch to cheaper winter-blend gasoline.