FYI: It was pretty widely expected that the ISM Manufacturing report for the month of October was going to show a slower rate of growth, and that’s exactly what we saw. While economists were forecasting the headline index to drop to 59.0 from last month’s reading of 59.8, the actual reading was much weaker at 57.7. That is the lowest reading for the headline index since April, and it was tied for the largest m/m decline since August 2016. Despite the decline and weaker than expected reading, the manufacturing sector is still expanding, but the rate of growth has slowed.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/as-expected-manufacturing-activity-slows/
