//a 33.1% growth rate in the third quarter still represents an overall contraction this year,//
The U.S. manufacturing sector grew at a quicker pace than expected in October, registering its sixth straight month of growth, according to a survey released on Monday 2nd Nov. The Institute for Supply Management’s index of purchasing managers rose to 59.3 percent, up 3.9 percentage points from the September reading of 55.4 percent and the highest since September 2018. Economists had expected a much smaller gain to 55.7.
Manufacturing has recovered much faster than expected. The index beat forecasts in seven out of the last eight months, with September the only disappointment.
“This figure indicates expansion in the overall economy for the sixth month in a row after a contraction in April,” Timothy R. Fiore, chairman of the ISM survey, said in a statement.
Readings above 50 on the index indicate growth, while those below 50 indicate contraction.
The New Orders component registered 67.9 percent, an increase of 7.7 percentage points from the September reading, indicating faster growth and strong demand. The Production Index registered 63 percent, an increase of 2 percentage points. Both have been growing for 5 months. The New Export Orders Index registered 55.7 percent, an increase of 1.4 percentage points, the fourth consecutive monthly increase.
Now tell us again ... how are the economies of other Countries doing? How is the EU economy faring? Is Trump responsible for any of them failing? You would do well to realise that the only Country in the World to have had their economy actually improve is China.