Manufacturing expands at faster pace in October | Essentials

Manufacturing expands at faster pace in October

HIGH ECONOMIC COST OF U.S. WARS by Cory M. Grenier
License (according to Flickr): Attribution-ShareAlike License

Excerpt:

WASHINGTON U.S. manufacturing expanded for the second straight month in October, boosted by growth in new orders and production. The Institute for Supply Management said Thursday that its index of factory activity rose last month to 51. 7, up from September's reading of 51.5. A reading above 50 indicates expansion. The ISM is a trade group of purchasing managers. Previous surveys showed manufacturing contracted from June through August. The figure is slightly below the average for the year of 52.2. Other reports have suggested that manufacturing is slowing, hampered by less business investment and fewer exports. But the ISM survey points to continued, if gradual, expansion, driven by increased consumer spending. The report is the final look at U.S. manufacturing conditions before Tuesday's presidential election. The race has been heavily focused on the economy.

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Macroeconomics Dow Jones Industrial Average Economics Economy Business Government spending Consumer spending Dow Jones & Company

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• index
• institute for supply management
• Manufacturing

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Manufacturing expands at faster pace in October

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Stocks jumped after the release of the October report, which is the final look at manufacturing before the presidential election

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Full Content: http://feeds.cbsnews.com/~r/CBSNewsBusiness/~3/KzrWeMaWpbk/

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