U.S. manufacturing activity unexpectedly accelerated in October, rising to 56.9 from 54.4 in the Institute for Supply Management factory gauge released Monday.

Economists had predicted the ISM manufacturing index would slip to 54.0 in September. Index readings above 50 indicate growth, while those below 50 signal contraction.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.