The Institute for Supply Management (ISM, Tempe, Ariz., USA) reports that economic activity in the U.S. manufacturing sector expanded in October for the third consecutive month, and the overall economy grew for the sixth consecutive month. ISM's Purchasing Managers Index (PMI) registered 55.7 percent, following a September value of 52.6 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.

The report was issued today by Norbert J. Ore, CPSM, C.P.M., chair of the ISM Manufacturing Business Survey Committee. “The manufacturing sector grew for the third consecutive month in October, and the rate of growth is the highest since April 2006 when the PMI registered 56 percent. The jump in the index was driven by production and employment, with both registering significant gains. Production appears to be benefiting from the continuing strength in new orders, while the improvement in employment is due to some callbacks and opportunities for temporary workers. Overall, it appears that inventories are balanced and that manufacturing is in a sustainable recovery mode.”

Information: www.ism.ws