The composite manufacturing index in the US Fifth District rose by 13 points from the previous month to -4 in October of 2025, contrasting with expectations of -14 to reflect the softest magnitude of pessimism in the district's factory activity since the ongoing sequence began in March. Shipments levels rebounded from their aggressive decline in the previous month (4 vs -20 in September), supported by a softer decline for new orders (-6 vs -15) as firms continued to deplete their backlogs of orders (-16 vs -21). In the meantime, the number of employees fell further (-10 vs -15). On the price front, input price inflation persisted, but at a softer rate (5.8 vs 7.2), allowing companies to reduce their charges (3 vs 4). Looking ahead, expectations improved for shipments (13 vs 0) and new orders (12 vs 8).