Manufacturers in U.S., Europe post (upside) October surprise

A measure of how fast American manufacturers are growing rebounded in October from a three-month low, potentially getting the fourth quarter off to a good start for the U.S. economy.

IHS Markit said its flash index rose to 53.2 last month from 51.5 in September, buoyed by the fastest increase in new orders and goods produced in a year. Production has risen five straight months.

The October report “signaled that U.S. manufacturers started the fourth quarter in a strong fashion,” Markit said.

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