Confidence improves as U.S. business activity hits 20-month high

Confidence among U.S. businesses is steadily improving. U.S. business activity increased to a 20-month high in October, but, amid the lingering COVID-19 shutdown restrictions, the pace of new business growth and new orders eased slightly alongside caution ahead of U.S. Election Day on November 3rd.

U.S. stocksReuters:

Data firm IHS Markit said on Friday its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, rose to a reading of 55.5 this month. That was the highest since February 2019 and was up from 54.3 in September. A reading above 50 indicates growth in private sector output.

It said some manufacturers and service industry companies noted the coronavirus crisis had weighed on demand. The survey found other companies said a number of clients were holding back on placing orders until after the fiercely contested race to the White House… The survey’s flash composite new orders index dipped to 54.3 this month from a reading of 54.8 in September.

Still, confidence among businesses is steadily improving. The survey’s flash services sector PMI rose to 56 this month, a 20-month high, from a reading of 54.6 in September… The survey’s flash manufacturing PMI inched up to a reading of 53.3 from 53.2 in September… A measure of new orders received by factories increased to a reading of 54.2 from 53.6 in September.

MacDailyNews Take: Confidence breeds confidence.

29 Comments

  1. You’re welcome, again.

    Oh, by the way, here’s some more peace in the Middle East for you, too!

    Israel, Sudan Agree to Normalize Ties in U.S.-Brokered Deal; Accord ends decades of hostility as one of Africa’s largest countries joins a broader diplomatic realignment in the Middle East – The Wall Street Journal, October 23, 2020

    1. This won’t change the outcome of the election. Trump is going down in an epic defeat. Record voter turnout is normally a very bad sign for the incumbent and all other data points to a major Trump defeat. There’s no good data for Trump. You have to rely on feelings and super biased polling to get any positive news for Trump. It’s all over but the crying which you’ll be doing plenty of. Bye Don. Get it? Bye Don. Byedon. Biden.

      1. This 2020 race is over.

        The internals are getting even stronger for Trump and the GOP.

        President Trump will be re-elected and the Senate majority will likely increase by at least a seat.

        Really, the only question in 2020 is how long are Trump’s coattails and will they sweep through a sea change in the House, too.

        First Then, October 22, 2020 at 3:57 pm

        See you on November 4th! 😀

        1. Wow, you have your head in the sand. None of the data looks good for Trump. “The internals” yaaaaa that sounds legit 🙂 Credible data that said 2016 was a toss up within the margin of error is now using the same model to predict an almost 90 percent chance that Biden wins big. It’s funny how so many people with bad biased sources of information were surprised by 2016. I always knew Trump had a chance of winning. 2016 was always very close. 2020 is not close. Trump is losing huuuuuuge. It is going to be so much fun to watch you wiggle and whine and cry when Trump loses.

          1. See you on November 4th!

            (The public numbers below are actually behind the numbers to which I am privy.)

            1. So you are a troll. On assignment pumping a load of crap on this board. You are privy to inside information which you use to spread misinformation and propaganda.

              Tell us what makes you not a troll. Here to campaign. You were quiet until election season and now here you are with your slanted drivel.

        2. Baffling!!! The guy is clearly at least half senile. His speeches are slight variations on about ten stock (and empty) phrases. He has the body language and whining voice tones of a kindegarter bully. He has utterly swampified his administration. He insults the troops. And you still support him!

          1. And – oh yeh – his depraved indifference and lying have caused an immense number of unnecessary deaths. Why is the US, the most prosperous country in the world, among the very worst few (per capita) for infections and deaths?

            1. Why is the US, the most prosperous country in the world, among the very worst few (per capita) for infections and deaths?

              Answer:

            2. I don’t call him TxUseless for nothing and continues not to disappoint.

              Democrat troll the latest now raining on the parade of the good ole’ USA and Christians. Out of LEFT field but typical for leftists that denigrate religion.

              A departure from dumping on our fearless leader who backs down from NO ONE. An energetic swamp fighter and peoples president who steered the economy to record heights in three years despite the raging Mueller investigation that found NO CRIMES, trumped up impeachment by the Schiff Pelosi mob and also nominated three superlative Supreme Court Justices. Remarkable!

              President Trump is unbelievable given the daily RELENTLESS media mob and Democrat attacks and TxUseless is part of the same screeching cabal amounting to NOTHING except snide cheap shots. TxUseless no matter how hard he tries by his denials cannot erase the reality of Trump’s record economy.

              A lying FAKE Republican, the oldest trick in the Democrat playbook, most likely from New York, LA or DC can’t take any of President Trump’s accomplishments away or change history.

              President Trump in his second term will make America even GREATER AGAIN!…

            3. In the Democrat-run states, death rates per 100,000 residents are 40 percent higher than in Republican-led states, according to a new study by AEI. Of the first 210,529 deaths in the US from COVID-19, only 32,846 took place in Republican-led states.

          2. What is “baffling” is the brainless that cannot see through politics and recognize a good man and tireless worker that cares about EVERYONE.

            Make America even better in your second term, Mr. President…

    2. I hadn’t heard this good news yet. These haters just can’t give the Prez the credit he is due and just keep stroking each other to alleviate their irrational fear. President Trump is trying to bring this country up to a higher standard for everyone, and they just can’t see it, or won’t admit it.

      1. “President Trump is trying to bring this country up to a higher standard for everyone.”

        Well said!

        The most important fact of his presidency the dummy Democrats and brainless angry leftists simply do not and will not understand, Classic example Bubba.

        Bottom line the president does not need their permission, support or understanding…

  2. President Trump set a personal record $26 million campaign donations in a day since he skewered bumbling basement Biden in the debate.

    That and the economic numbers bodes well for re-election he rightly deserves for his energy and tireless work ethic for the American people.

    It’s OK Joe, nap time. 47 years toiling in the swamp you deserve a permanent break…

    1. What are you smoking? In the first two weeks of October Biden raised $130 million while Trump raised $43 million. Biden has a $100 million cash advantage over Trump right now. The $26 million figure you cite is Trump’s campaign PLUS fundraising from the RNC. After the first debate Biden raised $31.5 million in one day. Biden hasn’t announced fundraising from the second debate yet. I bet because he’s waiting for Trump to brag about the $26 million and then come out with a number that beats Trump yet again, just like Biden’s town hall ratings beat Trump.

      Your buddy First Then is crowing about an approval rating from a known crap poll and the rating is only 46 percent! That’s your evidence that Trump is going to win? Yikes!

      1. gob and first misinformation trolls assigned to support trump. gob does it by parroting others, and first just spread lies and with his lips, inflates trumps “ego”.

        1. After Nov3rd, most everyone that reads MDN will be given a present. That will be never having to read such slanted bull crap FT and the roid that dropped from FTs butt (GoeB) again. Their heathen idol will be heading to jail and all his followers to the hospital to get treated for COVID.
          I wish I was a Russian instead of Canadian. In that way I could actually vote in your election.

      2. I guess a one day record and two weeks are the same for dummies who cannot comprehend the difference. No matter.

        Yes, by miles Biden swamp team far out raised the Trump team. Same as in 2016 when Hillary raised $1.4 billion vs. $957.6 for Don according to the Washed Post.

        So what?

        Biden is the ultimate Washington swamp creature BOUGHT and paid for by political PACS and DC players that own him for 47 years.

        One very important distinction the Democrats universally miss — the people own Donald Trump and not the swamp lobbyists and foreign governments.

        Ahhhh, feeling good it’s looking like history is going to repeat itself…🇺🇸🦅🤠

        1. “I guess a one day record and two weeks are the same for dummies who cannot comprehend the difference.”

          So sorry for you. I compared two weeks for Trump and Biden. Trump’s $43 million was for TWO WEEKS and Biden’s $130 million was also for TWO WEEKS. The exact same two weeks in fact. Then I compared single day fundraising with Trump at $26 million and Biden at $31.5 million. I guess you don’t read so well. Never mind that Biden’s town hall on a single channel beat Trump’s town hall ratings which was on three channels. That is already comparing the exact same time period so you can’t use the excuse that Biden’s town hall was longer, sorry.

          This is going to be fun watching all of you Trumpets lose your minds when he goes down in an epic defeat. Keep holding onto your 2016 Hillary fantasy. This is not 2016. The data is completely different. Trump was always within the margin of error in 2016. It was always a tight race. Trump’s win in 2016 wasn’t a surprise to anyone with good data. He always had a chance to win in 2016. Trump has almost no chance this time. Statistically his chances are not zero but they’re pretty darn close to zero.

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