ISM manufacturing PMI comes in light at 48.7

Manufacturing Sector Overview - The ISM manufacturing index for October reported a reading of 48.7%, indicating a contraction in the manufacturing sector, consistent with the August figure and lower than previous months [1][2] - This marks the sixth consecutive month below the neutral level of 50, reflecting ongoing challenges in the manufacturing industry [3] Price Trends - The prices paid index decreased to 58.0%, down from 61.9%, representing the second lowest reading of the year, indicating easing inflationary pressures [2] - The January figure was notably higher at 54.9%, suggesting a trend of declining prices in the manufacturing sector [2] New Orders and Employment - New orders improved slightly to 49.4%, up from 48.9%, but still below the neutral mark, indicating mixed signals in demand [2][3] - Employment figures showed a slight increase to 46.0%, up from 45.3%, marking the best reading since May, although still indicating contraction [3]