The U.S. ISM Manufacturing PMI registered 54.5 in September, down marginally from 54.6 in August and marking the ninth consecutive month of expansion. While overall manufacturing activity remained stable, the Prices Index jumped significantly to 77.9 from 71.1, signaling accelerating input cost pressures within the sector. Sub-indices showed mixed performance as New Orders rose to 55.3 and Employment increased to 52.7. Conversely, the Production Index declined to 56.7 and Inventories contracted to 48.6, indicating a pullback in output and stockpiling despite sustained demand and rising price levels.