US ISM Manufacturing PMI declines to 48.7 in October vs. 49.5 expected
Source Fxstreet
- The ISM Manufacturing PMI remained in contraction territory in October.
- The US Dollar Index trades marginally higher on the day.
The economic activity in the United States' (US) manufacturing sector continued to contract in October, with the Institute for Supply Management's (ISM) Manufacturing Purchasing Managers' Index (PMI) dropping to 48.7 from 49.1 in September. This reading came in weaker than the market expectation of 49.5.
Other details of the PMI report showed that the Employment Index edged higher to 46 from 45.3 in this period, while the New Orders Index improved to 49.4 from 48.9. Finally, the Prices Pair Index, the input inflation component of the survey, declined to 58 from 61.9.
Market reaction
The US Dollar (USD) Index clings to small daily gains following the release of the ISM Manufacturing PMI data. At the time of press, the index was up 0.15% on the day at 99.85.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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