US manufacturing activity expanded in October for the sixth consecutive month according to the Institute for Supply Management, reaching its highest point since September 2018 after declining earlier this year amid coronavirus-driven shutdowns.
More context: The Institute for Supply Management publishes a monthly index that monitors the change in production activity based on a survey of over 300 manufacturing firms. The October index increased from 55 to 59, and any value above 50 signifies an expansion. Access the latest report here.
Extra: The manufacturing sector accounts for ~11% of US GDP.
