Posted November 1, 2019

Manufacturing contracted at slower pace in October

Manufacturing contracted in October, as the Institute for Supply Management's purchasing index registered 48.3 percent, an increase of 0.5 percentage point from the September reading of 47.8 percent.

“The PMI contracted for the third straight month, but at slower levels compared to September. This marks seven straight months of softening or contraction in manufacturing. All but one (New Export Orders) of the PMI subindexes registered at levels associated with contraction. Two of the six big industries expanded, and four contracted,” said Timothy R. Fiore, chair of the ISM Manufacturing Business Survey Committee.

A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.

Click for details.