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    November 1, 2024

    ISM: Manufacturing index fell in Oct to lowest point of '24

    Written by Ethan Bernard

    Domestic manufacturing contracted for the seventh straight month in October, according to the latest report from the Institute for Supply Management (ISM). This marks the 23rd time in the last 24 months that it has been in contraction.

    The ISM Manufacturing PMI stood at 46.5% in October, 0.7 percentage points lower than the previous month, and the lowest reading so far in 2024. A reading above 50% indicates growth in the manufacturing economy, while a reading below 50% indicates contraction.

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

    Read more from Ethan Bernard

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