US ISM manufacturing stagnated in October, employment drops sharply

Omkar Godbole FXStreet Contributor

FXStreet (Mumbai) - The Institute of Supply Management’s (ISM) manufacturing gauge remained stalled or neutral in October on account of weak global demand.

The ISM printed at 50.1, which is slightly above the expected figure of 50.00, but below September’s 50.2. The actual figure for October is the weakest since Oct 2013.

Employment weakest since Aug 2009

The ISM group’s measure of employment decreased to 47.6 in October, the weakest reading since August 2009, from 50.5 a month earlier. The export orders index improved to 47.5 from 46.5, but still in contraction for the fifth consecutive month.

Other details

Prices paid 39 vs 38 exp

Construction spending 0.6% vs 0.5% exp

Consumer spending climbed 3.2%

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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