ISM: production at its highest since 2021

The US manufacturing sector accelerated in October. The ISM Manufacturing PMI rose to 55.5, from 54.5 in September and above the 54.5 consensus, extending the expansion streak to ten months (readings above 50).

The standout figure is production: the sub-index reached 59.0, its highest since November 2021. New orders held at 55.5 and employment held in expansion (52.4, from 52.7 in September).

The flip side is prices and mood: the prices-paid index eased to 75.2 from 77.9 but remains elevated, and only 34% of survey comments were positive (66% negative), the third straight month of deteriorating sentiment.

Sources: Institute for Supply Management, Manufacturing PMI Report On Business (October 2026, published November 2, 2026): ismworld.org/supply-management-news-and-reports/reports/ism-pmi-reports/pmi/october/. Also published on X: x.com/Stocksdam/status/2117274346012176436