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The Institute for Supply Management (ISM) reported that economic activity in the manufacturing sector in the US contracted for the 12th consecutive month in October. The ISM's purchasing managers' index (PMI) dropped to 46.7, down 2.7 points from September's level and below economists' projection of 49. A reading below 50 indicates a contraction in activity. In contrast, the S&P Global Manufacturing PMI showed expansion with a reading of 50 in October. Manufacturing PMIs in France, Germany, Spain, and the Eurozone also showed contraction in October, while China and India reported expansion in their services PMIs. The UK Composite PMI and Services PMI both showed contraction, with readings of 48.7 and 49.5, respectively. In the US, the Services PMI for October came in at 50.6, slightly lower than the previous month's reading of 50.9, while the S&P Global Composite PMI dropped to 50.7 from 51.0.
U.S SERVICES PMI (OCT) ACTUAL: 50.6 VS 50.9 PREVIOUS; EST 50.9 U.S S&P GLOBAL COMPOSITE PMI (OCT) ACTUAL: 50.7 VS 51.0 PREVIOUS
UK COMPOSITE PMI FINAL ACTUAL 48.7 (FORECAST 48.6, PREVIOUS 48.6) $MACRO
🔴 ⚠️ BREAKING: UK SERVICES PMI FINAL ACTUAL 49.5 (FORECAST 49.2, PREVIOUS 49.2) $MACRO
🔴 INDIAN SERVICES PMI ACTUAL 58.4 (FORECAST -, PREVIOUS 61.0) $MACRO
🔴 CHINESE CAIXIN SERVICES PMI ACTUAL 50.4 (FORECAST 51, PREVIOUS 50.2) $MACRO
🔴 EUROZONE MFG PMI FINAL ACTUAL 43.1 (FORECAST 43, PREVIOUS 43.0) $MACRO
🇪🇺 Europe HCOB Eurozone Manufacturing PMI (Oct) $EUR Actual: 43.1 🟢 Expected: 43.0 Previous: 43.4 - https://t.co/orvmA6Wqwk
🇩🇪 Germany HCOB Germany Manufacturing PMI (Oct) $EUR Actual: 40.8 🟢 Expected: 40.7 Previous: 39.6 - https://t.co/orvmA6Wqwk
🇫🇷 France HCOB France Manufacturing PMI (Oct) $EUR Actual: 42.8 🟢 Expected: 42.6 Previous: 44.2 - https://t.co/orvmA6Wqwk
🇪🇸 Spain HCOB Spain Manufacturing PMI (Oct) $EUR Actual: 45.1 🔴 Expected: 47.0 Previous: 47.7 - https://t.co/orvmA6Wqwk
US Manufacturing PMIs diverging directionally and giving two very different signals about the economy (ISM: worsening contraction vs S&P: expansion). US ISM Manufacturing PMI: 49➡️46.7 in October US S&P Global Manufacturing PMI Final: 49.8➡️50 in October Source: @tEconomics https://t.co/4RDaEzpYvy
⚡️🇺🇸 The Institute for Supply Management’s purchasing managers’ index, which tracks factory activity, ⬇️ to 46.7 last month, down 2.7 points from September level. Economists had projected a reading of 49. Anything ⬇️ 50 indicates a contraction in activity compared to previous… https://t.co/BwTk54Xuf7 https://t.co/Z2vPgOanJe
Economic activity in the manufacturing sector contracted in October for the 12th consecutive month, per ISM. https://t.co/qwB2kNbdxe