FIDU

The final regional Fed manufacturing survey for October was released Tuesday morning from the Fifth District (Richmond).The Richmond Fed’s composite reading on the manufacturing sector rose 8 points to a record high of 29.Demand continues to surge for the region’s manufacturers, though service sector demand has continued to improve but decelerated in October.

In the latest Empire State Manufacturing Survey, the diffusion index for General Business Conditions came in at 10.5, a decrease of 6.5 from the previous month's 17.0.The Investing.com forecast was for a reading of 15.0.Business activity expanded modestly in New York State, according to firms responding to the October 2020 survey.

Despite the recent slowdown in the employment numbers the recovery seems to power on.The U.S. PMI numbers for both services and manufacturing show considerable expansion still.This bodes well for Q3 GDP and thus stick market pricing.

The resurgence of COVID in some global economies resulted in a number of weaker readings in Markit Service PMIs, namely those in Europe.Meanwhile, the reading for the US released Monday met expectations at 54.6, unchanged from the flash reading but slightly lower than last month’s reading of 55.0.The ISM reading for the Non-Manufacturing sector, on the other hand, had a stronger showing in September with the headline index rising to 57.8 from 56.9 in August.

The Institute for Supply Management published its monthly Manufacturing Report for September.The latest headline Purchasing Managers Index was 55.4, a decrease of 0.6 from 56.0 the previous month.The headline number was below the Investing.com forecast of 56.4 percent.

The final regional Fed manufacturing survey of the month was out this week with the release of Dallas Fed's manufacturing survey.General business activity rose 5.6 points in September to 13.6.That marks back to back months with expansionary activity since August and September of last year.This month also marked the strongest reading since November of 2018 as the index has risen for five straight months.

Flash PMIs for September 2020 around the world add more evidence to the possibility of a global slowdown during the economy's all-important rebound quarter.Credit spreads are up modestly again, having already plateaued somewhat around late July.July economic concerns continue, the first real challenge in dollar tightening since June, with several key indications being folded into that negative mix.

The latest index came in at 11, down 3 from last month's 14, which indicates expansion in September.The future outlook decreased from 19 last month to 18 this month.Below is a snapshot of the complete Kansas City Fed Manufacturing Survey.