FX.co ★ US Manufacturing Growth Strengthens in October: S&P Global

The S&P Global US Manufacturing PMI increased to 52.5 in October 2025, up from 52.0 in September, surpassing the initial estimate of 52.2. This latest figure marks the third consecutive month of growth in the manufacturing sector, fueled by accelerated output and the strongest rise in new orders in 20 months, largely attributed to heightened market demand and successful acquisition of new contracts. Nevertheless, export levels declined for the fourth consecutive month at the steepest rate since July, highlighting decreased sales to significant trading partners such as Canada, China, Europe, and Mexico. Employment growth was modest, with companies reporting excess capacity in production facilities. Regarding pricing, input cost inflation remained high by historical standards due to tariffs, leading firms to substantially increase selling prices. Lastly, business confidence fell to its lowest point since April, as companies expressed concerns over global trade conditions and policy uncertainties.