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US DATA: Surprise Upward Revision To Mfg PMI, Highest Since July

US DATA
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  • The S&P Global US manufacturing PMI fared better than expected in the final October PMI, revised up to 48.5 (flash 47.8) to extend an increase from 47.3 in Sept to its highest since July.
  • The upward revision is in contrast to a downward revision in today’s UK final manufacturing PMI.
  • “Uncertainty ahead of the Presidential Election was cited as a key reason for new orders continuing to fall, but the pace of decline eased and production was scaled back to the smallest degree in three months. Manufacturers continued to reduce employment and purchasing activity, however.”
  • “Inflationary pressures softened, with input costs increasing at the slowest pace in almost a year and output price inflation also easing. Meanwhile, suppliers' delivery times lengthened for the first time in three months amid delays widely linked to hurricane-related disruption.”
  • The lengthening in suppliers’ delivery times is something that was seen in yesterday’s MNI Chicago PMI.
  • See the full S&P Global press release here.  
Source: S&P Global
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  • The S&P Global US manufacturing PMI fared better than expected in the final October PMI, revised up to 48.5 (flash 47.8) to extend an increase from 47.3 in Sept to its highest since July.
  • The upward revision is in contrast to a downward revision in today’s UK final manufacturing PMI.
  • “Uncertainty ahead of the Presidential Election was cited as a key reason for new orders continuing to fall, but the pace of decline eased and production was scaled back to the smallest degree in three months. Manufacturers continued to reduce employment and purchasing activity, however.”
  • “Inflationary pressures softened, with input costs increasing at the slowest pace in almost a year and output price inflation also easing. Meanwhile, suppliers' delivery times lengthened for the first time in three months amid delays widely linked to hurricane-related disruption.”
  • The lengthening in suppliers’ delivery times is something that was seen in yesterday’s MNI Chicago PMI.
  • See the full S&P Global press release here.  
Source: S&P Global