Inflation pressure in the United States continues to rise, with the September composite PMI rising to 58.4, reaching a new high in over five years According to BlockBeats news, on September 23rd, S&P global data showed that the initial value of the US comprehensive PMI output in September rose to 58.4, significantly higher than August's 56.0, reaching the highest level since July 2021, indicating significant expansion in manufacturing and service industry activities. The new order index rose from 55.2 to 58.2, the highest since March 2022. Strong demand has pushed the number of unfinished orders for enterprises to the highest level since May 2022. S&P Global stated that the backlog of orders not only indicates further expansion of future output and production capacity, but also implies increased pricing power for companies, which may exacerbate inflationary pressures. The price index also showed a significant increase, with the purchase price index for enterprise investment rising from 59.9 to 66.4, the highest level since October 2022. S&P Global points out that supply chain delays and insufficient operational capacity are driving up enterprise costs, with supplier delivery times extending to the widest level since July 2022. After the data was released, spot gold fell below $4300, the US dollar index rose above $101, and US bond yields further rose, with 10-year US bond yields returning above 5%. The Federal Reserve raised its benchmark interest rate by 25 basis points to 3.75% to 4.00% last week and signaled that it may continue to raise rates in the coming months. [Original link]