Posted November 1, 2022

Manufacturing expanded at slower pace in October

Manufacturing grew at a slower pace in October compared to September, as the Institute for Supply Management's monthly index registered 50.2 percent.

That figure is 0.7 percentage point lower than the 50.9 percent recorded in September.

"The Manufacturing PMI figure is the lowest since May 2020, when it registered 43.5 percent," said Timothy R. Fiore, chair of the ISM Manufacturing Business Survey Committee. "The New Orders Index remained in contraction territory at 49.2 percent, 2.1 percentage points higher than the 47.1 percent recorded in September. The Production Index reading of 52.3 percent is a 1.7-percentage point increase compared to September’s figure of 50.6 percent."

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