by Mike ‘Mish’ Shedlock
The Markit US Flash Manufacturing Report shows U.S. manufacturers record strongest upturn in business conditions for 12 months.
The report also shows input cost inflation is the strongest in nearly two years, hiring is subdued, and export growth is weak.
[…] Key Findings
- Headline PMI rises from 51.5 to 53.2 in October
- Output and new order growth hit one-year peaks
- Manufacturers report fastest expansion of input buying since June 2015
- Input cost inflation accelerates to its strongest for almost two years
Manufacturing production has now increased for five months running, following a slight dip in May. The rate of expansion in October was the fastest for exactly one year. Survey respondents cited an accelerated pace of new business growth and, in some cases, efforts to boost production in anticipation of stronger client demand in the months ahead.