The reading increased from an eight-month low of 55.5 in October. Any reading above 50 indicates an expansion in the manufacturing activity. Manufacturing PMI has been above 50 since June 2021.
The survey is prepared by S&P Global based on responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers.
The October manufacturing PMI data aligned with manufacturing sector and the core sector index growth number released on Thursday. GDP data released on Thursday showed manufacturing growth in the second quarter at 13.9%.
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