Manufacturing sector marks 10 straight months of growth ahead of midterms

U.S. manufacturing activity expanded in October, achieving 10 consecutive months of growth before the midterms. According to the Institute for Supply Management (ISM), the manufacturing purchasing managers’ index (PMI) rose to 55.5 percent from September's 54.5 percent, with four of five subindexes showing increases. Conversely, labor market data reveals a surge in long-term unemployment, with approximately 1.9 million Americans remaining unemployed for at least 27 weeks during the month of September.