SPY•The flash US Composite PMI Output Index fell to 57.6 in October from 58.4 in September, while the output prices gauge rose to 59.8, its highest reading since August 2022.
US business activity slowed modestly in October as strength in manufacturing was offset by a slight pullback in services. The new orders measure edged up to 58.2, its highest level since March 2022, while the output prices gauge rose to 59.8 from 58.4.
Factory employment reached its highest level since March 2012 as manufacturers sought to expand capacity. Supplier delivery times deteriorated to a more than four-year low, and the survey's input prices measure remained elevated at 64.9.
