Manufacturing grows in October but at a lower level, reports ISM

The PMI, the ISM’s index to measure growth, was 50.1 in October, which was down 0.1 percent from September and now at its lowest level since May 2013, when it was also at 50.1. The PMI has been at 50 or higher for 33 consecutive months, with the over all economy growing for 77 months in a row. The current PMI is 1.6 percent below the 12-month average of 52.7.