Economic activity in the US manufacturing sector expanded in October, and the overall economy grew for the 101st consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
The October PMI registered 58.7 percent, a decrease of 2.1 percentage points from the September reading of 60.8 percent.
The New Orders Index registered 63.4 percent, a decrease of 1.2 percentage points from the September reading of 64.6 percent.
The Production Index registered 61 percent, a 1.2 percentage point decrease compared to the September reading of 62.2 percent.
The Employment Index registered 59.8 percent, a decrease of 0.5 percentage point from the September reading of 60.3 percent.
The Supplier Deliveries Index registered 61.4 percent, a 3 percentage point decrease from the September reading of 64.4 percent.
The Inventories Index registered 48 percent, a decrease of 4.5 percentage points from the September reading of 52.5 percent.
The Prices Index registered 68.5 percent in October, a 3 percentage point decrease from the September level of 71.5, indicating higher raw materials prices for the 20th consecutive month.
Of the 18 manufacturing industries, 16 reported growth in October, in the following order: paper products; nonmetallic mineral products; machinery; transportation equipment; wood products; food, beverage and tobacco products; miscellaneous manufacturing; petroleum and coal products; plastics and rubber products; textile mills; chemical products; computer and electronic products; fabricated metal products; furniture and related products; electrical equipment, appliances and components; and primary metals.