The U.S. manufacturing sector expanded for the fifth consecutive month in October, the Institute for Supply Management reported today, apparently largely unharmed by the federal government shutdown. Calling the strength of sales the “big story” in this report, Chad Moutray, chief economist for the National Association of Manufacturers, said the third straight month of the new orders index exceeding 60.0 indicated “an extremely healthy pace of new orders.”
The Institute for Supply Management’s index climbed to 56.4, the highest since April 2011, from 56.2 a month earlier, the Tempe, Arizona-based group’s report showed today. Readings above 50 indicate growth. The median forecast in a Bloomberg survey of economists was 55.
READ MORE: This story was reported by Bloomberg News, Industry Week, and Los Angeles Times.