The manufacturing sector expanded in October and the overall economy grew for the 101st consecutive month, according to supply executives in the latest Manufacturing ISM Report on Business. The October PMI was 58.7 percent, a decrease of 2.1 percentage points from the September reading.

A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.

The New Orders Index registered 63.4 percent, a decrease of 1.2 percentage points from the September reading. The Production Index registered 61 percent, a 1.2 percentage point decrease compared to the September reading. The Employment Index registered 59.8 percent, a decrease of 0.5 percentage points from September. The Supplier Deliveries Index registered 61.4 percent, a 3 percentage point decrease. The Inventories Index registered 48 percent, a decrease of 4.5 percentage points from the September reading. The Prices Index registered 68.5 percent, a 3 percentage point increase from the September level, indicating higher raw materials prices for the 20th consecutive month.

Of the 18 manufacturing industries, 16 reported growth in October, in the following order: Paper Products; Nonmetallic Mineral Products; Machinery; Transportation Equipment; Wood Products; Food, Beverage & Tobacco Products; Miscellaneous Manufacturing; Petroleum & Coal Products; Plastics & Rubber Products; Textile Mills; Chemical Products; Computer & Electronic Products; Fabricated Metal Products; Furniture & Related Products; Electrical Equipment, Appliances & Components; and Primary Metals. Two industries reported the same level of activity as September.

For more information, visit www.ism.ws.