US manufacturing expanded for a tenth consecutive month in October, with the Institute for Supply Management’s Manufacturing PMI at 55.5, up one percentage point from 54.5 in September and one point above the consensus forecast reported by Reuters. The Production Index rose 2.3 points to 59.0, its highest reading since November 2021, new orders edged up to 55.5, and employment eased 0.3 point to 52.4 while remaining in expansion for a fourth month. The Prices Index fell 2.7 points to 75.2, still an elevated level, and ISM said general sentiment among respondents worsened for a third month, with 66 percent of comments negative and pricing volatility the most cited concern.
US manufacturing PMI rises to 55.5 in October, beating forecasts
The ISM Manufacturing PMI rose to 55.5 in October from 54.5 in September, one point above the consensus forecast, with production at 59.0, its highest reading since November 2021.
Why it matters: A tenth straight month of expansion with the strongest production reading in five years points to factory demand holding up into the fourth quarter, while a prices index still at 75.2 keeps factory gate cost pressure in front of the Federal Reserve.
Data as of Institute for Supply Management, October 2026 Manufacturing PMI Report, issued November 2, 2026 and read in full in this run; every index figure is the report's own. The consensus forecast of an unchanged 54.5 is from the Reuters report of November 2, 2026. Developing item.
Sources
- October 2026 ISM Manufacturing PMI Report - Institute for Supply Management - 2026-11-02
- US manufacturing picks up in October; input prices stay high - Reuters - 2026-11-02