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“U.S. manufacturing firms signalled a strong start to the final  quarter of 2018, with operating conditions improving at a faster pace in October,” the IHS Markit noted in the U.S. Manufacturing PMI report (October final).

Key takeaways from the press release

  • The seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index posted 55.7 in October, broadly in line with September’s reading of 55.6.  
  • The headline PMI was driven by a stronger expansion in new business received by goods producers in October.
  • The rate of job creation reached a ten-month high and was strong overall.
  • Manufacturing firms recorded pressures on profit margins in October, with the rate of input price inflation quickening to a marked pace.  
  • Finally, output expectations towards the coming 12 months improved, with firms suggesting that anticipations of further new order growth drove optimism.