text: The S&P Global Flash U.S. Manufacturing PMI rose from 47.3 in September to 47.8 in October, signaling a deterioration in business conditions for the fourth consecutive month but at the slowest rate since August. The largest negative contribution to the PMI came from new orders, which fell for the fourth straight month but at a slower rate than the prior month.
  Suppliers’ delivery times lengthened for the first time in three months, due to freight-related congestion and weather-related disruptions. Manufacturing input cost growth cooled to a seven-month low thanks to lower fuel prices, reduced buying and competition among suppliers. Inventories fell at the sharpest rate in 14 months. Production and employment also fell but at reduced rates from September. While business conditions improved slightly in October, future optimism in manufacturing hit a nine-month high.