American factories grew more slowly last month, but U.S. manufacturing remains healthy. New orders, production, hiring and export orders all grew, though more slowly. The American economy grew at a solid 3 percent annual pace from July through September. Ian Shepherdson, chief economist at Pantheon Macroeconomics, said the October report showed that U.S. manufacturing is "still very strong and likely to stay that way ... Global demand is strong, the dollar is competitive, and domestic spending on capital equipment is rising rapidly."

Source: Fox News November 01, 2017 14:25 UTC