US manufacturing PMIs diverge in October
By Iain Gilbert
Date: Monday 03 Nov 2025
(Sharecast News) - US manufacturing data painted a mixed picture on Monday, with one key survey signalling expansion, while another pointed to continued sector contraction.
S&P Global's US manufacturing PMI rose to 52.5 in October, ahead of preliminary estimates of 52.2 and up from 52.0 in September, marking a third consecutive month of growth, driven by faster output and the strongest rise in new orders in nearly two years.
However, export orders declined for a fourth straight month, falling at the sharpest pace since July amid weaker trade flows with Canada, China, Europe and Mexico. Employment growth remained subdued, with firms citing spare capacity, while input cost inflation stayed elevated due to tariffs, prompting notable increases in selling prices.
In contrast, the Institute for Supply Management's PMI fell to 48.7 in October from 49.1 in September, missing expectations of 49.5 and marking an eighth straight month of contraction. Production slipped to 48.2 from 51, with further declines seen in new orders, employment and inventories. Price pressures eased, however, with the index falling to 58 from 61.9.
Reporting by Iain Gilbert at Sharecast.com
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