Posted November 1, 2021

October manufacturing growth slowed 

Manufacturing grew at a slower pace in October compared to September according to the latest report from the Institute for Supply Management.

The October Manufacturing PMI registered 60.8 percent, a decrease of 0.3 percentage point from the September reading of 61.1 percent.

The New Orders Index registered 59.8 percent, down 6.9 percentage points compared to the September reading of 66.7 percent.

"Business Survey Committee panelists reported that their companies and suppliers continue to deal with an unprecedented number of hurdles to meet increasing demand. All segments of the manufacturing economy are impacted by record-long raw materials lead times, continued shortages of critical materials, rising commodities prices and difficulties in transporting products," said Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee.

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