Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of October, according to a report released by the Institute for Supply Management on Monday.
The ISM said its manufacturing PMI slipped to 48.7 in October after edging up to 49.1 in September, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 49.5.
The unexpected dip by the headline index came amid a downturn by production, as the production index slid to 48.2 in October from 51.0 in September.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.