A measure of U.S. manufacturing
activity probably rose last month to the highest in three years as
production jumped after the biggest increase in demand in a
quarter century drained inventories, economists said before an
industry report today.
The Institute for Supply Management’s factory index may rise
to 55.8 for October, the highest since February 2000, from 53.7
for September, based on the median of 51 forecasts in a survey of economists. That would mark the fourth straight month the index has exceeded 50, signaling expansion, following
four months when manufacturing declined.
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Sales surged at a 7.8 percent annual pace last quarter, the
most since 1978.
Bloomberg News
