Economic Buzz: US ISM Manufacturing PMI Edges Down To 50.2 In October

2 Nov 2022 , 09:03 AM

A report released by the Institute for Supply Management on Tuesday showed a slight increase in U.S. manufacturing activity in the month of October. The ISM said its manufacturing PMI edged down to 50.2 in October from 50.9 in September, but a reading above 50 still indicates growth in the sector. The report showed the new orders index climbed to 49.2 in October from 47.1 in September, while the production index rose to 52.3 from 50.6. The employment index also increased to 50.0 in October from 48.7 in September, suggesting employment in the manufacturing sector was unchanged. Meanwhile, the prices index tumbled to 46.6 in October from 51.7 in September, indicating a decrease in prices for the first time since May 2020. Powered by Commodity Insights