The final S&P Global U.S. manufacturing PMI report for October showed that output and new orders continued to rise, though the pace of growth slowed from earlier readings. The report also said supply chain disruptions remained in place, adding to price pressure across the sector. At the same time, employment growth reached its highest level in five and a half years. The update points to a manufacturing sector that is still expanding in key areas, but with momentum easing while cost pressure builds. The combination of slower growth in production and orders, persistent supply chain strain, and a sharp pickup in hiring was the main takeaway from the report cited by ChainCatcher.
According to ChainCatcher, the final S&P Global U.S. manufacturing PMI report for October showed output and new orders went up, but growth lost some speed.
Persistent supply chain disruptions pushed price pressure up sharply. And employment growth hit its highest level in five and a half years.
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