In October, the ISM manufacturing index rose 0.2 percentage points to 51.7%. The figure slightly exceeded market expectations, which had seen the index remaining unchanged at September's 51.5%. Moreover, the figure marks the second consecutive month in which the manufacturing sector is expanding, after the index dipped below the 50% threshold during three consecutive months in the June-August period. The October reading reflected an improvement in the new orders and production sub-categories, as the three remaining sub-indices deteriorated over the previous month. Despite the positive monthly figure, according to the ISM "comments from the panel this month reflect continued concern over a fragile global economy and soft orders across several manufacturing sectors".
United States PMI
Manufacturing index edges up in October
November 1, 2012
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United States PMI Chart
Note: Composite index in the Manufacturing Report on Business (PMI). Readings above 50% indicate an expansion in the manufacturing sector while readings below 50% point to a contraction.
Source: Institute for Supply Management (ISM).
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