S&P Global’s U.S. Composite PMI Output Index registered 57.6 in October, indicating business activity continued to grow but at a slower pace than in September.
The score was 0.8 point below September’s 58.4, which S&P Global said was the strongest reading since July 2021. A score of 50 marks no change from the prior month; October’s 57.6 was above that level. The measure is an index, so 57.6 is not a 57.6% increase in output.
A separate gauge from the survey showed its output-prices index at 59.8 in October, the highest since August 2022. EconoTimes previously examined the survey’s business-price gauge.
October’s figure is an early estimate. The final October PMI release will update the flash estimate.
