US manufacturing PMI rises to highest since April

By Ovunc Kutlu

ISTANBUL (AA) - The US manufacturing PMI rose to its highest in April, S&P Global said Wednesday.

The manufacturing purchasing managers' index (PMI), which measures the activity of managers in the manufacturing sector, added 0.2 points to 50.0 in October, up from 49.8 in September, according to final figures by the financial services company.

The expectation for manufacturing PMI was to come in at 50.0.

A reading below 50 represents contraction, while above 50 indicates expansion in the sector.

"Contributing to the uptick in the headline index was a renewed rise in new sales at goods producers during October," the firm said in a report. "New orders increased for the first time in six months, and at the fastest pace since September 2022."