U.S. Composite PMI Falls to 57.6 in October but Remains in Expansion

The preliminary S&P Global’s U.S. Composite PMI Output Index fell to 57.6 in October from 58.4 in September, indicating that business activity kept expanding but at a slower pace.

The decline was 0.8 point. The reading stayed above 50, the level used to distinguish month-to-month expansion in activity from contraction. PMI figures are index readings, not percentage changes in output: a score above 50 signals activity increased from the prior month, while a score below 50 signals it declined.

October’s figure is a flash estimate, an initial reading released before the final PMI figures. It offers a preliminary view of the month’s business activity; the final PMI release will provide the later reading for October.