Economy
November 2, 2017
ISM PMI Retreats Slightly in October
Written by Sandy Williams
U.S. manufacturing slowed a bit from September but remained robust in October, according to the latest Manufacturing ISM Report on Business from the Institute for Supply Management. The headline PMI registered 58.7 percent, a 2.1 percentage point decrease from September’s score of 60.8 percent. A reading above 50 indicates growth. Comments from respondents suggest that at least some of the weakness may be due to the impacts from the recent hurricanes.
All of the components of the index weakened last month. Orders and production both declined 1.2 percentage points, but remained firmly positioned in expansion territory. New orders registered 63.4 percent and production 61.0 percent.
