The Institute for Supply Management (ISM) Manufacturing Purchasing Managers' Index (PMI) came in at 55.5 for October, above the 54.6 forecast and up from 54.5 in September. A reading above 50 signals expansion in the manufacturing sector, so this marks a pickup in the pace of growth from the prior month.
| Reading | Actual | Forecast | Prior |
|---|---|---|---|
| ISM Manufacturing PMI (Oct) | 55.5 | 54.6 | 54.5 |
| ISM Manufacturing Employment (Oct) | 52.4 | 53 | 52.7 |
Source: Economic calendar: the official release, the consensus forecast and the prior reading · as of November 2, 2026 at 10:00 AM ET · Released at 10:00 AM ET on Monday, November 2, 2026.
The details
The ISM Manufacturing Employment measure, which tracks hiring activity reported by factory purchasing managers, came in at 52.4 in October. That was below the forecast of 53 and also down slightly from September's reading of 52.7, suggesting factory hiring eased a touch even as overall activity accelerated.
In context
No multi-year history is stored for this measure, so we can only compare October's headline PMI reading of 55.5 with September's 54.5. That is a rise from the prior month's level.
How markets took it
As of 10:05 AM ET, shortly after the release, the S&P 500 stood at 7,628.17, up 0.63% from the prior close, and the Nasdaq Composite was at 25,642.44, up 0.81%. The 10-year Treasury yield, which moves opposite to bond prices, slipped 0.93% to 4.883%.
| Market | Level | Change |
|---|---|---|
| S&P 500 | 7,628.17 | +0.63% |
| Nasdaq Composite | 25,642.44 | +0.81% |
| 10-year Treasury yield | 4.883% | -0.93% |
Source: Index futures, index and Treasury yield quotes · as of November 2, 2026 at 10:05 AM ET · Read at 10:05 AM ET; change is from the prior close.