Artem Voloskovets
The Composite PMI declined to 57.6 from 58.4 in September, while manufacturing exceeded market expectations.
US PMI Data: October 2026
| Indicator | October | September | Forecast |
| Composite PMI | 57.6 | 58.4 | — |
| Services PMI | 57.9 | 58.8 | 58.0 |
| Manufacturing PMI | 56.0 | 55.9 | 55.5 |
The Composite PMI fell by 0.8 points, driven primarily by slower services growth. The Services PMI declined by 0.9 points and missed expectations by 0.1 points.
Manufacturing improved slightly, gaining 0.1 points from September and beating forecasts by 0.5 points.
PMI Technical Details
- Above 50: Business activity is expanding.
- Below 50: Business activity is contracting.
- Composite PMI: Combines manufacturing and services activity.
- Flash PMI: Preliminary monthly estimate based on available survey responses.
Economic Implications
All three indices remained above 50, indicating continued expansion in the US private sector.
The decline in the Composite PMI signals slower growth, not contraction. Manufacturing showed relative strength, while services accounted for most of the slowdown.
Conclusion: October PMI data indicate continued US economic expansion, with manufacturing outperforming expectations despite weaker service-sector momentum.
Artem Voloskovets
