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US manufacturing strengthens
US manufacturing showed its strongest expansion
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US manufacturing showed its strongest expansion in nearly five years in October. The ISM manufacturing index rose by one point to 55.5, the second-highest reading in more than four years, beating all economist forecasts. Remember that readings above 50 points indicate expansion. The report shows the expansion is now in its tenth consecutive month after roughly three years of industrial weakness. Production accelerated sharply: the production component hit its highest level since late 2021. The new orders component also rose to
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