🔸 Composite PMI: 57.6 vs. 58.4 prior 🔸 Services PMI: 57.9 vs. 58.8 🔸 Manufacturing PMI: 56.0 — 53-month high 🔸 GDP growth: Consistent with roughly 5% annualized, according to S&P Global
Hiring remains strong, but selling prices are rising at their fastest pace since August 2022.
The key takeaway: U.S. growth remains exceptionally resilient, but renewed inflation pressures could complicate the Fed's rate outlook.
Source: S&P Global Flash U.S. PMI, October 23, 2026