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Source: Institute for Supply Management Source: Federal Reserve <br />Manufacturing <br />The Institute for Supply Management (ISM)manufacturing index declined to 50.2 in October from 50.9 in September.The index remained just <br />above the breakeven point of 50,indicatingexpansion for the 29th consecutive month.However,the declining trend reflects a lower demand <br />for goods as consumers shift to spending on services. Total industrial production rose 0.4% in September after a small upward revision to -0.1% <br />in August.Gains were broad-based including both durable and non-durable goods.Capacity utilization increased to 80.3%in September after <br />a minimal upward revision to 80.1% in August and continues to run slightly above the 1972-2021 average of 79.6%. <br />40 <br />42 <br />44 <br />46 <br />48 <br />50 <br />52 <br />54 <br />56 <br />58 <br />60 <br />62 <br />64 <br />66 <br />Institute of Supply Management Purchasing Manager Index <br />EXPANDING <br />CONTRACTING <br />-10.0% <br />-5.0% <br />0.0% <br />5.0% <br />10.0% <br />15.0% <br />20.0% <br />Industrial Production <br />YOY( %) Change9