The U.S. manufacturing sector contracted in October, Manufacturing PMI® registered 48.4%, for the eighth consecutive month and the 24th time in the last 25 months,
Regarding the overall economy, this figure indicates that the economy continued in expansion for the 55th month after one month of contraction in April 2020. (A manufacturing PMI® above 42.5%, over a period of time, generally indicates an expansion of the overall economy.)
The Employment Index registered 48.1%, up 3.7 percentage points (points) from September’s figure of 44.4%.
The Prices Index continued in expansion territory, registered 50.3%, down 4.5 points compared to the reading of 54.8% in October.
The New Orders Index returned to expansionary territory, albeit weakly, after seven months of contraction, registering 50.4 percent, 3.3 percentage points higher than the 47.1 percent recorded in October.
The New Exports Orders Index reading of 48.7% is 3.2 points higher than the 45.5% registered in October.
The Inventories Index registered 48.1 %, up 5.5 points compared to October’s reading of 42.6%.
Read the ISM release.
