In October, the seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) was 48.5, increasing 1.2 points from September but remaining below the 50 no-change point for the fourth month. Manufacturers reported supply chain delays due to recent hurricanes and a decrease in new orders.
The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times, and stocks of raw materials. A reading above 50 indicates growth, while below represents a contraction. See S&P Global
