United States: ISM manufacturing index dips in October, but remains upbeat
The Institute for Supply Management (ISM) manufacturing index ticked down to 60.8 in October from 61.1 in September. Consequently the index moved remained above the 50-threshold that separates expansion from contraction in the manufacturing sector.
October’s slightly weaker expansion was predominately driven by a softer rise in new orders and production. That said, employment levels increased at a faster pace in October relative to the month prior.