ISM Index of Manufacturing in U.S. Increased to 56.9 in OctoberBob Willis
The Institute for Supply Management’s factory index rose to 56.9 in October from 54.4 a month earlier, the Tempe, Arizona-based group said today. Readings greater than 50 signal growth.
Economists forecast the ISM manufacturing gauge would decline to 54, according to the median of 75 projections in a Bloomberg News survey. Estimates ranged from 52 to 56.8.
Manufacturing in China expanded in October at the fastest pace in six months, while U.K. factory growth unexpectedly accelerated as hiring and export orders improved, other reports showed today.
A China purchasing managers’ index released by the logistics federation rose to 54.7 last month from 53.8. A second PMI, from HSBC Holdings Plc and Markit Economics, jumped to 54.8 from 52.9.
A U.K. gauge based on a survey of companies by Markit Economics and the Chartered Institute of Purchasing and Supply rose to 54.9 last month from 53.5, according to an e-mailed statement in London. Measures above 50 indicate expansion.
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