🚨JUST OUT: U.S. ISM Manufacturing came in at 54.5 in September. BELOW 55.0 expected and close to 54.6 previously. A reading above 50 means U.S. factory activity is still GROWING. Together with cooler PCE inflation and low jobless claims, the data shows the economy is still holding up. But prices paid jumped to 77.9, showing inflation pressure is STILL present. The latest print also SUPPORT the Fed having the 'room to ease', but may not need to move too fast.