The purchasing managers index (PMI) fell to 55.5 in October from 57.5 in September, according to S&P Global Market Intelligence. Though the October PMI Manufacturing data was above its long-run average of 53.9, it was the slowest rate of expansion recorded since February. The 50-mark separates expansion from contraction.
The survey pointed to the rate of job creation being the slowest since April, with 4% of companies hiring additional people and 95% not hiring new staff.
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