Breaking: US S&P Global Composite PMI eases in October, Manufacturing at 53-month high
Business activity in the United States (US) private sector showed continued expansion in October, according to preliminary data released by S&P Global on Friday.
The S&P Global Composite Purchasing Managers Index (PMI) for the United States decreased in October, marking a 53-month high in manufacturing activity, according to preliminary data released by S&P Global on Friday. The manufacturing PMI reached 56, while the services PMI remained steady at 57.9, mirroring market expectations. The composite PMI eased to 57.6, down from 58.4 in the previous month.
S&P Global's Chief Business Economist, Chris Williamson, stated that October's flash PMI data suggest the US economy is booming at the start of the fourth quarter, with GDP growth projected at a 5% annualized rate after a 4% expansion in the third quarter. The US Dollar remained slightly supported following the release of the S&P Global PMI data, with the US Dollar Index (DXY) up 0.09% at 101.70.
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- Private sector activity hits four month high in October economictimes.indiatimes.com
