Keeping you up to date on the latest data releases.
- ISM Manufacturing
The ISM’s Manufacturing Purchasing Managers Index (PMI) fell 0.8 index point to 50.8 in October. This small decline keeps the index near the recent low of 50.6, and leaves the index just 0.8 point above its growth threshold of 50. The manufacturing PMI is 5.3 points below its 12-month average of 56.1. The decline in the overall index was largely driven by a sharp decline in the inventories index, which fell 5.3 points to 46.7, its lowest reading in over a year. A smaller 1.1 point drop also occurred in the production index, falling to 50.1 in October and erasing a 2.6 point gain in September. Losses of 0.3 point and 0.1 point were also recorded for the employment index and supplier deliveries index, respectively. The only positive component in October was the new orders index, which added 2.8 points. The new orders index now stands at 52.4, its first venture above the growth threshold of 50 in four months. The prices index (which is not seasonally adjusted and does not enter into the overall PMI) fell 15.0 points to 41.0 in October, the lowest point for that index since April 2009.