The headline S&P Global US Manufacturing PMI recorded 54.9 in October.
The latest rise in selling prices was notable in being the largest since September 2022, indicating a marked uplift in inflationary pressures at the factory gate.
The increasingly widespread difficulties reported in producers servicing high demand resulted in a further improvement in the hiring trend in October, as companies sought to boost productive capacity.
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US factories continued to report strong growth in October, sustaining the sector’s best growth spell since early 2022. However, growing pains are clearly evident, with factories struggling to meet strong demand, especially for AI-related goods and equipment, amid supply chain
