The US manufacturing sector continues to expand, but at the lowest rate since the coronavirus pandemic recovery began. So says the Institute for Supply Management.

Customers’ Inventories Index remained at a low level, with the same reading as in September and the Backlog of Orders Index slipping into contraction.

Despite this, the apparel manufacturing industry stood out. Apparel headed the nine industries reporting employment growth in October, followed by leather and allied industries.The same two industries also reported growth in new orders in October, while textile mills were one of 12 industries to report a decline.Apparel, textile mills, and leather and allied industries reported slower supplier deliveries in October, but the former two reported paying less for raw materials.

There has been expansion in the overall economy for the 29th month in a row after contraction in April 2020 and May 2020. However the figure is the lowest since May 2020, when it registered 43.5 per cent. The New Orders Index remained in contraction territory at 49.2 per cent, 2.1 percentage points higher than the 47.1 per cent recorded in September.The Production Index reading of 52.3 per cent is a 1.7percentage point increase compared to September’s figure of 50.6 per cent while the Prices Index registered 46.6 per cent, down 5.1 percentage points.