FILE PHOTO: Startup Rivian Automotive's electric vehicle factory in Normal
Economists polled by Reuters had forecast the index edging up to 47.7. While the PMI and other business surveys have painted a grim picture of manufacturing, which accounts for 11.1% of the economy, so-called hard data have suggested that the sector continues to chug along amid higher borrowing costs.
Though backlog orders shrank, inventories at factories and their customers remained very low, which should support future production. With demand still weak, prices for factory inputs remained subdued.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Marketmind: Markets strap in for PMI data dumpAfter a rough September, investors will be looking for something positive to kick off the fourth quarter, although a dump of economic data from Europe on Monday may not give them the lift they want. A round of purchasing managers index (PMI) data from across the globe continues with Europe on Monday, following Chinese PMI data over the weekend that pointed to mixed levels of services and manufacturing activity last month. Markets have been feeling the pain after stocks, bonds and non-dollar currencies around the world mostly fell in the previous month, as investors adjusted to the idea that U.S. interest rates will stay elevated for longer.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
European stocks start fourth quarter with gains; focus on PMI data(Reuters) - European stocks started the final quarter of 2023 with modest gains on Monday, as the U.S. avoided a federal government shutdown, while ...
Source: SaltWire Network - 🏆 45. / 63 Read more »