U.S. manufacturing remained in expansion territory in September as the Institute for Supply Management’s prices index rose 6.8 points to 77.9 from 71.1 in August, while Singapore’s factory activity expanded for a 14th consecutive month, with its PMI rising to 51.7 from 51.5. Singapore’s electronics sector, which represents 40% of manufacturing output, recorded a PMI of 52.9 for its 16th straight expansion month, supported by artificial-intelligence-related demand. The U.S. data showed broader input-price increases, driven by rising energy costs, with no commodity category reporting a monthly decline; Singapore’s data showed stronger orders, output and employment but worsening supplier deliveries, rising costs, longer lead times and growing backlogs. The combination of resilient activity and persistent cost and supply pressures could complicate expectations for lower interest rates and create a potential financing risk for Bitcoin.