Its manufacturing index rose to 57 last month from 53.7 in September. An index reading above 50 indicates expansion; one below 50 indicates that manufacturing activity is contracting. From March through June, the manufacturing index was below 50. Analysts had anticipated a reading of 55.5 for October.
Manufacturing activity up for fourth straight month
November 3, 2003
The manufacturing sector expanded strongly in October, with a fourth consecutive month of growth boding well for the overall economy in the final quarter of the year, the Institute for Supply Management reported recently.