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Survey Based Measures <br />40 <br />45 <br />50 <br />55 <br />60 <br />65 <br />70 <br />Institute of Supply Management (ISM) Surveys <br />ISM Manufacturing ISM Services <br />EXPANDING <br />CONTRACTING <br />The Institute f or Supply Management (ISM)Manufacturing index dropped to 46.7 in October from 49.0 in September.This is the twelfth <br />consecutive month of readings below 50.0,which is indicative of contraction in the manufacturing sector.New orders remained sluggish, <br />production growth slowed,and layoffs increased. The ISM Services Index eased to 51.8 in October from 53.6 in September as inflation, <br />interest rates, and geopolitical events impacted business activity in the sector. <br />Source: Institute for Supply Management <br />9