From Seekingalpha · Wolf Richter · · 50s
US Economy Booms with Growth and Inflation
US economy shows rapid growth and high inflation in October PMI data.
In brief
US economy shows rapid growth and high inflation in October PMI data. October US PMI data shows manufacturing and services sectors growing rapidly while inflation rises, indicating an economy running hot. Originally reported by Seekingalpha.
October US Manufacturing PMI
The flash Manufacturing PMI for manufacturers in the US rose to 56.0 in October, the fastest rate of growth since May 2022.
October US Services PMI
The flash Services PMI Business Activity Index, at 57.9 for October, was the second-highest growth rate in nearly five years, behind only September.
Economy Running Hot
Lots of economic growth and lots of inflation, that’s what the PMIs for October reflect - and that’s the definition of an economy that is "running hot."
“the us economy continues to boom at the start of the fourth quarter. the output readings from the survey are consistent with gdp”
What to remember
October US PMI data shows manufacturing and services sectors growing rapidly while inflation rises, indicating an economy running hot.
