Manufacturing sector marks 10 straight months of growth ahead of midterms
Strong domestic demand and AI-related spending lifted new orders, while factory input prices stayed elevated and employment growth slowed, ISM said.
- On Monday, the Institute for Supply Management reported its manufacturing PMI increased to 55.5% in October, marking the 10th consecutive month of expansion for the sector.
- Despite output growth, manufacturers faced significant inflationary pressure as input costs remained elevated, with the survey's gauge of prices paid registering a high 75.2 in October.
- Susan Spence, chair of the ISM's Manufacturing Business Survey Committee, noted general sentiment worsened for a third consecutive month, with 66% of respondent commentary being negative.
- Last Wednesday, the Federal Reserve left interest rates in the 3.75%-4.00% range while acknowledging that inflation "remains elevated," with economists expecting further rate moves in December.
- Persistent supply constraints and rising demand for AI and data centers continue to challenge manufacturers, suggesting inflationary pressures remain far from contained through 2027.
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US manufacturing strengthens in October, input prices stay high - Regional Media News
By Lucia Mutikani WASHINGTON, Nov 2 (Reuters) - US manufacturing activity picked up in October amid strong domestic demand, keeping inflation at the factory gate elevated. Despite the unexpected improvement reported by the Institute for Supply Management on Monday, sentiment among manufacturers remained overwhelmingly downbeat, [...]
The news comes days after the mid-term elections and as President Donald Trump travels through states to promote his economic policy.
Manufacturing Sector Expanded for 10th Straight Month in October: Industry Index
Economic activity in the nation’s supply chain enjoyed broad-based improvement in October, a new Institute for Supply Management (ISM) Purchasing Managers’ Index (PMI®) Report reveals.September’s gains were extended in several areas of the supply chain last month, the Institute’s latest report finds:The manufacturing sector expanded for the 10th straight month.The overall economy expanded for the 24th straight month.New orders grew for the 10th …
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