ISM Manufacturing PMI: Factory Activity Hits 55.5 in October

U.S. factory activity widened its expansion in October, with the ISM Manufacturing PMI rising a full point to 55.5, above the 54.6 consensus and the strongest reading since the sector's 2021 peak. The jump was led by production, which hit 59.0, its highest level since November 2021, and it came with a tell the whole goods economy is watching: supplier deliveries slowed again, prices paid stayed near recent highs, and manufacturers finally rebuilt inventories after a month of drawdowns.

Key Takeaways Manufacturing PMI rose to 55.5 in October, up 1.0 point from 54.5 in September and above the 54.6 consensus. The Production Index hit 59.0, the fastest pace since November 2021, powered by AI and…