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U.S. manufacturing activity strengthened in October as new orders increased, although raw materials became more expensive and took longer to arrive.
The Institute for Supply Management’s Manufacturing Purchasing Managers’ Index, or PMI, rose to 55.5 in October from 54.5 in September, marking the 10th consecutive month of expansion.
The broader U.S. economy expanded for the 24th consecutive month, ISM said on Monday.
The index is based on a monthly survey of manufacturing executives and measures whether business conditions such as orders, production, and employment are improving or weakening.
A reading above 50 generally means an expansion when compared with the previous month, while a reading below 50 points to contraction. The further away from 50, the greater the level of change….
The Institute for Supply Management’s Manufacturing Purchasing Managers’ Index, or PMI, rose to 55.5 in October from 54.5 in September, marking the 10th consecutive month of expansion.
The broader U.S. economy expanded for the 24th consecutive month, ISM said on Monday.
The index is based on a monthly survey of manufacturing executives and measures whether business conditions such as orders, production, and employment are improving or weakening.
A reading above 50 generally means an expansion when compared with the previous month, while a reading below 50 points to contraction. The further away from 50, the greater the level of change….
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