US Manufacturing PMI rose to 56.0 in October, exceeding expectations, with strong job growth supporting Q4 2026 GDP projections of +5.0% annualized.
Macro & Markets ·
US Manufacturing PMI reached 56.0 in October, marking its highest level since May 2022 and reversing expectations of a decline, with job growth hitting its strongest pace since March 2012. The Services PMI fell to 57.9 while the Composite PMI declined to 57.6, though both remain near four-year highs. These readings correspond to projected annualized GDP growth of 5.0 percent for Q4 2026, up from an expected 4.0 percent in the prior quarter.