Welcome News on ISM Manufacturing PMI

The ISM Manufacturing PMI exceeded expectations in October posting a score of 59.3 percent, a 3.9 percent increase from September and indicating factory growth for the fifth consecutive month.

“The manufacturing economy continued its recovery in October,” said Timothy Fiore, chairman of the Institute for Supply Management Manufacturing Business Survey Committee. “Survey committee members reported that their companies and suppliers continue to operate in reconfigured factories; with every month, they are becoming more proficient at expanding output.”