Afternoon Coffee: PMI Hits Low Not Seen Since 2013, Congress Introduces Bill to Extend Train Safety Equipment Deadline

The September ISM Purchasing Managers’ Index hit its lowest reading since May 2013. The PMI registered 50.2% last month, down 0.9% from August.

Members of Congress introduced legislation to push the deadline for railroads to install safety technology to December 2018. Supporters of the bipartisan measure, called the Positive Train Control Enforcement and Implementation Act of 2015, said the current deadline of Dec. 31, 2015, is not achievable.

Container traffic at the Port of New York and New Jersey reached a record level in August, hitting 329,057 containers, up 7.9% from the previous year. Experts point to the strong US dollar and peak season coming a bit early this year.

The main 3 US automakers saw sales rise in September: General Motors had sales jump 12%, Ford sales increased 23%, and Fiat Chrysler sales had a 14% boost compared to the same month last year.

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