Afternoon Coffee: ISM PMI Registers 50.1 in October, TransCanada Wants to Suspend Keystone XL Request

The U.S. manufacturing sector expanded in October, according to the Institute for Supply Management’s PMI report. The PMI came in at 50.1, a drop of 0.1% from the September reading. It was the slowest pace of expansion since May 2013.  

TransCanada has asked the State Department to suspend its request to build the Keystone XL, a pipeline that would carry 800,000 barrels a day of crude oil from Canada to the Gulf Coast.

Fewer logistics and transportation companies were involved in M&A deals during the third quarter, PwC reported. A total of 44 deals worth $28.8 billion took place, down from the 63 deals in the second quarter. 2015 is still on track to be the most active for M&A deals in the sector since 2006.

Commercial truck and trailer demand is expected to remain high in 2016, however. The majority of commercial vehicle market firms report plans to make as many heavy truck orders as they did in 2015.


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