The ISM Manufacturing Index registered 51.9 points in October, up 0.4 points from the previous month, according to the Institute for Supply Management. October’s reading indicates a second consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. Of the eighteen manufacturing industries, ten reported growth while eight reported contraction.
The Employment Index rose 3.2 points to 52.9 in October, indicating expansion following three months of contraction. Eleven industries reported expansion, while five (including apparel and petroleum & coal products) reported shrinkage.
The New Orders Index slipped 3.0 points to 52.1 in October, down from September but still indicating growth. Eight industries reported increases in new orders while eight reported decreases.
Export orders increased 0.5 points to 52.5, indicating growth in exports for the eighth consecutive month. Textile mills, miscellaneous manufacturing and food, along with four other industries reported growth, while five reported decreases.
The inventories index registered 47.5 points, indicating that raw materials inventories contracted for the 16th consecutive month.The inventories index registered 47.5 points, indicating that raw materials inventories contracted for the 16th consecutive month.
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