Economic Report: U.S. manufacturing sector stays strong in October despite hurdles, ISM survey


The numbers: A closely-followed index of U.S.-based manufacturing inched lower to 60.8% in October from 61.1% in the prior month, the Institute for Supply Management said Monday.

Economists polled by The Wall Street Journal had forecast a reading of 60.3%. Any number above 50% signifies growth. The index has been above the growth threshold for 17 straight months.

Big picture: Manufacturing is struggling with supply and shipping difficulties that aren’t seen as easing anytime soon. Labor shortages are at the heart of the woes. But despite these constraints, the sector has been able to continue to grow and sentiment in the industry remains strong.

Market reaction: Stocks


were mixed after the factory data was released.

Here are Monday’s biggest analyst calls of the day: Amazon, Peloton, Spotify, Shake Shack & more

Previous article

Federal contractors get broad flexibility to enforce Covid vaccine rules for millions of workers

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in News