According to a report from Markit Economics, the purchasing manager’s index (PMI) rose to 53.2 in October, a higher-than-expected increase.
The PMI is a general indicator of the financial health of the manufacturing industry, and measures new orders, production, supplier deliveries, the employment environment and inventory levels. A PMI above 50 indicates that the manufacturing industry is expanding.
In addition to the increase in the PMI, Markit Economics also believes that manufacturing will continue to grow after the 2016 presidential election, which has helped to slow spending in a number of industries.
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