Daily Roundup of Key US Economic Data for Oct. 1

03:23 PM EDT, 10/01/2026 (MT Newswires) -- The ISM manufacturing index fell slightly to 54.5 in September from a 54.6 level in August, with gains in the new orders, employment and prices readings offset by a decline in the production index. The S&P Global manufacturing PMI was revised lower to 55.9 in September from the flash estimate of 57.0 but was still above the 53.9 reading in August. Construction spending rose by 0.9% in August after a 0.1% decline in July. Private residential construction rose by 1.1%, with single-family and multi-family construction both up 0.2% and remodeling activity up 2.5%. Private nonresidential building rose by 1% and public construction was up 0.2%. Outplacement firms Challenger, Gray & Christmas reported 43,281 layoff intentions in September, down from 52,881 in August and 54,064 a year ago, with the technology sector again leading the total. At the same time, hiring plans experienced their usual seasonal spike in September, but the September level was the lowest for the month since 2011. "Companies are in a wait-and-see period right now," said Andy Challenger, the company's chief revenue officer. "Employers are facing high energy costs, an uncertain war in Iran, a rate hike that could make hiring more expensive, plus the likelihood of surging healthcare costs. We've seen layoff activity subside over this year, and September continues to illustrate this point." Initial jobless claims decreased by 1,000 to 197,000 in the week ended Sept. 26, trimming the four-week moving average by 2,500 to 200,000, a fourth straight decrease. Insured claims fell by 11,000 to 1.701 million in the week ended Sept. 19. Natural gas stocks rose by 64 billion cubic feet to 3.415 trillion cubic feet in the week ended Sept. 25, down 3.9% from a year earlier but 2.4% higher than the seasonal average for the current week over the previous five years. The Q3 GDP nowcast estimate from the Atlanta Fed is for a 3.7% gain, unrevised from the previous estimate.