U.S. Factory Growth Slows in October as Price Pressures Intensify

U.S. manufacturing activity expanded at a slower pace in October as production and new orders lost momentum, while persistent supply disruptions intensified price pressures in the final manufacturing PMI.

Production and new orders still increased, though at a slower pace. Supply-chain disruptions continued, and manufacturing employment growth reached its strongest pace in five and a half years.

PMI readings track month-to-month changes in business activity. A reading above 50 signals expansion; the index is not a percentage growth rate. The October flash composite PMI estimate covered a separate measure from the final manufacturing PMI. Composite output and manufacturing PMI readings are not comparable.