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US Oct manufacturing PMI hits five month high, tops estimates

by ChemOrbis Editorial Team -
  • 26/10/2015 (11:09)
According to a flash purchasing managers’ index (PMI) released by Markit Economics, the manufacturing sector in the US grew at the fastest pace in five months in October owing to stronger domestic demand despite gloomy global economic data and lower energy spending. The country’s manufacturing PMI increased to a reading of 54, exceeding economists’ estimates, which called for a reading of 52.3 in a survey conducted by the Wall Street Journal. Any reading above 50 indicates an expansion.

The output index and the new orders index both rose to their highest levels since March while the employment index also rose to a reading of to 52.9 from 50.8 in September.
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