Nov 1 (Reuters) – Growth in U.S. manufacturing activity in October grew at its slowest pace in nearly two-and-a-half years, according to the Institute for Supply Management’s (ISM) monthly survey. released on Tuesday.
The ISM manufacturing index rose to 50.2 last month after 50.9 in September. Economists polled by Reuters had on average expected a figure of 50.0.
Investors expect the US Federal Reserve (Fed), struggling with high inflation, to hike rates 75 basis points for the fourth time on Wednesday.
However, the market is clinging to the hope that it will signal a less aggressive monetary policy, possibly as early as December. (Report Lindsay Dunsmuir, French version Juliette Portala, edited by Sophie Louet)
click here for restrictions
©2022 Reuters