US manufacturing growth picks up pace in October
4 Nov 2013 2:48 AM IST
The US Institute of Supply Management (ISM) said the manufacturing index, also known as the purchasing managers index (PMI), edged up from 56.2 percent in September to 56.4 in October, reported Xinhua.
A reading above 50 percent indicates the sector is generally expanding while a reading below 50 percent indicates contraction. The new orders index inched up from 60.5 to 60.6 percent in October while the production index decreased by 1.8 percentage points to 60.8 percent. Of the 18 manufacturing industries, 14 reported growth last month including textile and food, beverage and tobacco products. Four industries, including apparel, reported contraction.
Manufacturing has been a bright spot in output and employment since the recession ended in June 2009. But the sector has shown signs of fluctuation in recent months.
A reading above 50 percent indicates the sector is generally expanding while a reading below 50 percent indicates contraction. The new orders index inched up from 60.5 to 60.6 percent in October while the production index decreased by 1.8 percentage points to 60.8 percent. Of the 18 manufacturing industries, 14 reported growth last month including textile and food, beverage and tobacco products. Four industries, including apparel, reported contraction.
Manufacturing has been a bright spot in output and employment since the recession ended in June 2009. But the sector has shown signs of fluctuation in recent months.
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