Shortages & Prices Slow U.S. Manufacturing Activity

U.S. manufacturing activity slowed in October as record-long materials lead times, shipping bottlenecks and component shortages took their toll on factories. The Institute for Supply Management’s PMI dipped 0.3 percent to 60.8. last month although long-term demand signals remain robust. “New order levels remain expansive and low-customer inventories are positive for future production,” said Tim…