Manufacturing expanded in October
Manufacturing expanded in October according to the latest Manufacturing ISM Report On Business.
The PMI registered 51.9 percent, an increase of 0.4 percentage point from the September reading of 51.5 percent, indicating growth in manufacturing for the second consecutive month.
A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
"Comments from the panel are largely positive citing a favorable economy and steady sales, with some exceptions," said Bradley J. Holcomb, chair of the Institute for Supply Management Manufacturing Business Survey Committee.