United States: U.S. manufacturing advances to three-month high
November 1, 2016
The ISM manufacturing index advanced slightly in October, signaling a modest expansion in the U.S. manufacturing sector. The indicator edged up from 51.5 in September to 51.9 in October and also beat market expectations of 51.7. The result brought the ISM index further above the 50-threshold that indicates an expansion.
The composition of the report was mixed. While new orders decreased over the previous months, manufacturing production reached a three-month high. Furthermore, employment improved substantially, reaching a 16-month high in October. Supplier delivery times also improved, while inventory levels declined further below 50.
Author: Ricardo Aceves, Senior Economist