The ISM's Manufacturing Index for the US jumped up again, now sitting at 59.3 up from 55.4 last month (September.)
The reading pointed to the strongest growth in factory activity since September of 2018, amid faster increases in new orders (67.9 vs 60.2), new export orders (55.7 vs 54.3) and production (63 vs 61) and a rebound in employment (53.2 vs 49.6) and inventories (51.9 vs 47.1). Price pressures also intensified (65.5 vs 62.8). “The manufacturing economy continued its recovery in October. Survey Committee members reported that their companies and suppliers continue to operate in reconfigured factories; with every month, they are becoming more proficient at expanding output. Panel sentiment was optimistic (two positive comments for every cautious comment), a slight decrease compared to September", Timothy R. Fiore, Chair of the ISM Manufacturing Business Survey Committee said.
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