United States: Manufacturing sector returns to multi-year high in October
November 3, 2014
In October, the ISM manufacturing index increased from the 56.6% recorded in September to 59.0%. October’s improvement pushed the index back to August’s level, which marked the highest since March 2011. The result overshot market expectations of a fall to 56.0%. Moreover, the index remains comfortably above the 50.0% threshold that indicates expansion in the manufacturing sector.
The improvement was driven mainly by a jump in the new orders and supplier deliveries categories. Inventories, employment and production were also up, although less significantly.
Author: Carl Kelly, Economist