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US Manufacturing PMI Rises to 55.5 in October
US manufacturing activity strengthened in October, with the Institute for Supply Management (ISM) reporting a Manufacturing PMI of 55.5. This reading exceeded September's 54.5 and economists' forecast of 54.5. Factory production reached its highest level since late 2021, and employment remained in expansion territory at 52.4. However, rising input costs and supplier delays continued to threaten the country's inflation outlook.