The Institute for Supply Management (ISM) reported that the growth rate slowed slightly in October. The manufacturing PMI for October was lowered by 0.3 points from the prior month. An article from Industry Week explains what this may mean and why manufacturers are optimistic.
Supply and demand are major factors affecting the growth rate. Both have been in influx due to the supply chain. The ISM measured demand and found it expanded across the industry. However, demand for domestic products grew at a much slower rate. The new orders index declined from 66.7% to 59.8% in October while new export orders rose by 1.2 points. Though the factor limiting growth is the availability of supply. The logistic delays and capacity and labor issues have all affected the supply chain and with increasing demand these elements compound which in turn slows the growth. To read the full article check out the link below.