PiCK
US October Services PMI Matches Forecast at 57.9; Manufacturing PMI Beats at 56.0
Minseung Kang
Summary
- The report said the US October preliminary services PMI came in at 57.9, matching market expectations.
- The US October preliminary manufacturing PMI came in at 56.0, above the market forecast of 55.4.
- The report said US October services and manufacturing PMIs both remained above 50, indicating economic expansion.
Forecast Trend Report by Period
The preliminary US services purchasing managers' index for October matched market expectations, while the manufacturing PMI came in above forecasts.
The preliminary October services PMI, released on Oct. 23, stood at 57.9, in line with the market estimate of 57.9. That was down from the previous reading of 58.8.
Over the same period, the preliminary manufacturing PMI came in at 56.0, above the market forecast of 55.4. It also edged up from the prior reading of 55.9.
A PMI reading above 50 signals economic expansion, while a reading below 50 indicates contraction.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.