US: Markit Manufacturing PMI edges down to 55.7 vs 55.9 expected

"U.S. manufacturing firms signalled a strong start to the final quarter of 2018, with operating conditions improving at a faster pace in October," the IHS Markit noted in the U.S. Manufacturing PMI report (October final).

Key takeaways from the press release

• The seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index posted 55.7 in October, broadly in line with September's reading of 55.6. 
• The headline PMI was driven by a stronger expansion in new business received by goods producers in October.
• The rate of job creation reached a ten-month high and was strong overall.
• Manufacturing firms recorded pressures on profit margins in October, with the rate of input price inflation quickening to a marked pace. 
• Finally, output expectations towards the coming 12 months improved, with firms suggesting that anticipations of further new order growth drove optimism.