- After three straight months of contraction in inventories, October saw inventories expand for the first time as the index rose to 51.9 from 47.1 in September.
- That is the highest level since April of last year.
- The improvement in business inventories indicates some normalization for supply chains that are seeking to match historically strong demand.
- One of the most promising areas of the October report was that for the first time since July of 2019, the index for Employment rose above 50, meaning there was finally net hiring.
For further details see:
Manufacturing Employment Finally Expands