ISM PMI down again in October

01 November 2022

 

Summary: ISM PMI down, at 50.9% in October, slightly above expectations; ISM: reading corresponds to 0.5% US GDP growth annualised. The Institute of Supply Management (ISM) manufacturing Purchasing Managers Index (PMI) reached a cyclical peak in September 2017. It then started a downtrend which ended in March 2020 with a contraction in US manufacturing which lasted until June 2020. Subsequent month’s readings implied growth had resumed, with the index becoming...

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