United States: ISM manufacturing index rises in October

Released on November 2, the ISM manufacturing PMI reached 55.5 in October, up from 54.5 in September. Above 50, it signals a tenth consecutive month of expansion in the sector. [1]

Higher production

The production index rose to 59, its highest reading since November 2021, Reuters reports. New orders also increased. [2]

Continuing pressure

The prices-paid index eased to 75.2 from 77.9. It still signals rising input prices: the slower reading does not mean costs are falling. [1]

Businesses remain cautious

Reuters also highlights manufacturers’ concerns about prices, delays and uncertainty. A stronger activity survey can therefore coexist with pessimistic comments from businesses. [2]