US Markit Manufacturing PMI edges up to 53.3 in October

Haresh Menghani FXStreet

US output growth regained growth momentum in October, as business activity rose at the fastest rate for 20 months and business optimism improved markedly, noted the IHS Markit's US PMI report. In fact, the flash version of the US Manufacturing PMI came in at a 21-month high level of 53.3 for October as compared to 53.2 previous.

Meanwhile, the US Services Business Activity Index jumped to 56.0 during the reported month (20-month high) from 54.6 in September.

The upbeat PMI prints, however, did little to impress the USD bulls and passed largely unnoticed.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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