09:57 AM EDT, 10/24/2024 (MT Newswires) -- The October flash reading of manufacturing conditions from S&P Global rose to a two-month high reading of 47.8 in October from 47.3 in September, compared with a smaller expected increase reading of 47.5 in a survey compiled by Bloomberg as of 7:45 am ET.

The index still suggests contraction in the sector, which is in line with the Empire State and Richmond Fed measures released earlier but in contrast with the Philadelphia Fed manufacturing index that suggested expansion.

The index for services conditions also increased to a two-month high reading of 55.3 in October from 55.2 in September, compared with expectations for a slight decrease to 55.0.

The services index indicates expansion in the sector which is in line with the Philadelphia Fed and Richmond Fed services indexes released earlier but in contrast with the New York Fed's services measure that signaled contraction.

The composite reading increased to 54.3 in October from 54.0 in the previous month, also a two-month high.