Factories Reported More October Growth. Their Price Gauge Stayed High.

U.S. manufacturers reported broader growth in October, the Institute for Supply Management said on Monday, November 2. The result is a survey of firms, not a new grocery, fuel, or loan price.

CNBC reported the manufacturing index at 55.5, up 1 point from September and above a 54.5 consensus estimate. A reading above 50 means more respondents reported expansion than contraction. Production rose to 59.0. The employment index was 52.3, down 0.3 point; because it stayed above 50, more firms reported employment growth than decline. It is not a national layoff count. Inventories rose to 51.4, and order backlogs were 54.6.

The prices index eased to 75.2, down 2.7 points. It remains far above 50, which means higher prices were still widespread among the manufacturers surveyed. CNBC’s account announced no consumer-price release, wage change, or Federal Reserve decision.

Does 55.5 mean household prices rose 55.5%? No. It means more manufacturers reported expansion in October. No household price or loan-rate change was announced with the survey.