US Manufacturing PMI Hits 4-Year High at 56 as GDP Outlook Reaches 5%

TLDR: US Manufacturing PMI rose to 56.0 in October, beating the 55.5 forecast and reaching a 53-month high. Factory hiring grew at its fastest pace since March 2012, even as the output index eased from 56.2 to 55.8. S&P Global’s survey suggested 5% annualized Q4 GDP growth, versus a PMI-implied 4% for the third quarter. [...]

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