Manufacturing expands for 10th straight month, but Iran war weighs heavily

Increasingly negative comments from respondents also cite price vitality and trade wars in latest Purchasing Managers’ Index from the Institute for Supply Management.

Economic activity in the U.S. manufacturing sector expanded in October for the 10th consecutive month to 55.5%, 1 percentage point higher than September, according to the Institute for Supply Management’s latest Purchasing Managers’ Index.

A figure below 50% indicates an industry in contraction. The overall economy grew for the 24th month in a row, ISM reported.

The Iran war and price volatility continue to weigh down the manufacturing sector despite 10 months of expansion, Susan Spence, chair of ISM’s Manufacturing Business Survey Committee, said on a call Monday. According to Spence, more respondents expressed concern about prices and other issues this month than in September.

This story was originally published by Supply Chain Dive. Read the full story at Supply Chain Dive →