WASHINGTON (AP) — U.S. manufacturing posted a strong gain in October to the highest level in two years even as coronavirus cases have begun to surge again in many parts of the country.
The Institute for Supply Management, an association of purchasing managers, said Monday that its manufacturing index rose by 3.9 percentage-points to a reading of 59.3% last month, up from 55.4% in September.
It was the highest level for this closely watched barometer of manufacturing health since September 2018. Any reading above 50 signals that manufacturing is expanding.
The gauge had fallen into recession territory from March through May as much of the country shut down in an effort to contain the coronavirus.
Of the 18 industries covered in the report, 15 reported expansion in October with strong growth in fabricated metals, food and veverages, chemicals and computers and electronics. MORE
…I’m just gonna say it’s been very active in military supplies this year, make of that what you will…
V-shaped recovery. President Trump was right, again.
Not much happening up here. Parts & Equipment are in short supply for HVAC.
Kcir — It’ll catch up. Next year is going to be AMAZING!
“even as coronavirus cases have begun to surge again…”
I doubt it.
When someone from government be they docs, desk hookers or politicians tells me anything about Whuflu numbers I start off with disbelief and then either laugh if it is ridiculous or get angry if it’s just another shitty lie.
We’re busier than we’ve been since Obama totally killed the manufacturing side.