Manufacturing PMI® at 46.7%; October 2023 Manufacturing ISM® Report On Business®
TEMPE, Ariz., Nov. 1, 2023 /PRNewswire/ -- Economic activity in the manufacturing sector contracted in October for the 12th consecutive month following a 28-month period of growth, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®.
- (A Manufacturing PMI® above 48.7 percent, over a period of time, generally indicates an expansion of the overall economy.)
- The Prices Index registered 45.1 percent, up 1.3 percentage points compared to the reading of 43.8 percent in September.
- The Backlog of Orders Index registered 42.2 percent, 0.2 percentage point lower than the September reading of 42.4 percent.
- "The Supplier Deliveries Index figure of 47.7 percent is 1.3 percentage points higher than the 46.4 percent recorded in September.