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US industry: Sentiment continues to deteriorate - Purchasing Managers' Index falls to 46.7 points
The mood in US industry deteriorated noticeably in October, as the Institute for Supply Management (ISM) announced. The Purchasing Managers' Index ISM fell by 2.3 points to 46.7 points compared to the previous month and is therefore well below the threshold of 50 points that signals a shrinking industry. The sub-indicator for prices paid rose slightly, but continues to indicate noticeable downward momentum in price developments. The employment development indicator fell, indicating a reduction in employment, and the new orders indicator also fell and remained below the growth threshold. According to a report from www.wallstreet-online.de, Ulrich Wortberg commented, ...
US industry: Sentiment continues to deteriorate - Purchasing Managers' Index falls to 46.7 points
The mood in US industry deteriorated noticeably in October, as the Institute for Supply Management (ISM) announced. The Purchasing Managers' Index ISM fell by 2.3 points to 46.7 points compared to the previous month and is therefore well below the threshold of 50 points that signals a shrinking industry. The sub-indicator for prices paid rose slightly, but continues to indicate noticeable downward momentum in price developments. The employment development indicator fell, indicating a reduction in employment, and the new orders indicator also fell and remained below the growth threshold.
According to a report by www.wallstreet-online.de Ulrich Wortberg, analyst at Landesbank Hessen-Thüringen, commented that there is still no recovery in the manufacturing sector, while the service sector is showing solid values and a recession in the overall economy has been avoided. This development could lead to interest rate hike expectations from the US Federal Reserve becoming smaller. The Fed will publish its monetary policy decisions during US trading.
Read the source article at www.wallstreet-online.de