The S&P Global Flash U.S. PMI for October indicates robust economic expansion, with the Composite PMI at 57.6 and the Services PMI at 57.9. The Manufacturing PMI reached 56.0, marking a 53-month high. S&P Global notes that GDP growth is consistent with an annualized rate of approximately 5%. While hiring remains strong, selling prices are increasing at their fastest pace since August 2022, suggesting renewed inflation pressures that could complicate the Fed's rate outlook.