US manufacturing strengthens in October, input prices stay high
US manufacturing activity accelerated in October, with the ISM manufacturing PMI rising to 55.5 from 54.5 in September, beating Reuters-polled economists' expectations. Strong consumer and AI-related business spending supported growth, but factory input prices remained elevated at 75.2, reinforcing concerns that US inflation could stay above the Federal Reserve's 2% target.
Key Takeaways
- US manufacturing activity accelerated in October, with the ISM manufacturing PMI rising to 55.5 from 54.5 in September, beating Reuters-polled economists' expectations.
- Strong consumer and AI-related business spending supported growth, but factory input prices remained elevated at 75.2, reinforcing concerns that US inflation could stay above the Federal Reserve's 2% target.
- Full details and original dispatch available below.
US manufacturing activity accelerated in October, with the ISM manufacturing PMI rising to 55.5 from 54.5 in September, beating Reuters-polled economists' expectations. Strong consumer and AI-related business spending supported growth, but factory input prices remained elevated at 75.2, reinforcing concerns that US inflation could stay above the Federal Reserve's 2% target.
Original Publisher Attribution
This summary was curated from Economic Times.