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ISM Manufacturing Exceeds Expectations

Thursday's release of the ISM Manufacturing report for the month of October came in better than expected (51.7 vs. 51.0) and rose modestly from last month's level of 51.5.  As shown in the table below, although this month's headline reading saw an increase, the majority of the index's subcomponents actually showed declines.  Of the index's ten subcomponents, only two (Production & New Orders) increased from September.  Compared to this time last year, though, the numbers look a little better.  Although the headline reading is down slightly from 51.8 one year ago, four of the index's subcomponents are currently higher. Continue reading.