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Emerson and Rockwell Automation seen benefiting from manufacturing PMI jump
The U.S. Manufacturing PMI hit 57, its highest reading in 52 months, indicating the factory sector remains in expansion.
MarketBeat Ratings points to a late September bright spot for the U.S. economy, saying the S&P Global U.S. Manufacturing PMI reached 57, its highest level in 52 months.
The outlet said the PMI reading suggests domestic factory activity is still expanding, though it characterized the improvement in manufacturing activity as only modest amid a wider pickup in business activity.
With demand for domestically manufactured goods staying strong despite supply chain constraints and rising input costs, MarketBeat Ratings highlighted Emerson Electric and Rockwell Automation as automation providers that could see upside if factory conditions keep improving.
The article adds that Emerson provides automation and industrial software to help other manufacturers automate processes and improve performance, rather than manufacturing products itself.