U.S. October ISM Manufacturing PMI rises to 55.5, beating market expectations; production growth hits a near five-year high.

Zhitong Finance APP has learned that the pace of US manufacturing expansion accelerated in October, with production activity posting its strongest growth in nearly five years, indicating that US manufacturing is continuing to recover after a prolonged slump. However, despite strong corporate production and order performance, inflationary pressures, tight raw material supply, and geopolitical uncertainty continue to worry manufacturers.