The US economy continued to demonstrate strength in October, according to the latest flash PMI data.
October’s flash US PMI survey showed a continued rise in business activity, marking a strong start to the fourth quarter. This growth was driven solely by the service sector, as manufacturing output declined for the third month. Employment also saw a slight decrease for the third month in a row, reflecting uncertainties related to the Presidential Election.
However, confidence in the outlook for the upcoming year rebounded after a significant dip in September, with companies predicting more stability and certainty post-election. The survey also reported a slower pace of inflation for input costs and prices charged, with the latter dropping sharply to its lowest level since May 2020, largely due to a significant easing in service sector inflation.
Source: S&P Global
Global markets remained defensive as stalled U.S.–Iran negotiations and persistent Middle East tensions continued to fuel inflation concerns and strengthen the dollar.
Global markets remained under pressure as persistent inflation concerns and stalled U.S.–Iran diplomacy reinforced expectations for tighter monetary policy.
Detail Yields Rise While Metals Trade Mixed (05.13.2026)Global markets turned cautious as escalating U.S.–Iran tensions and stronger U.S. inflation data reinforced expectations for higher interest rates.
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