(IHS Markit) US Manufacturing PMI was 58.4 in October, a drop from 60.7 in September and the weakest in ten months.
Growth of new orders was sharp and at a historic high, with firms reporting strong demand conditions amid the fall in output.
Output charges rose at a record pace, fueled by input unavailability and transportation delays. Input costs remained at high levels and was one of the highest since May 2007.
Labor shortages held back activity, with firms bundling up efforts to build stocks in as new orders grew.
Backlog of orders rose at one of the fastest rates on record as firms struggled with capacity pressure.
Output expectations were at a 12-month low, reflecting growing concerns of supply chain disruptions and price pressures.
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