Reports send mixed signals over US growth

The US manufacturing sector expanded at its fastest pace in years in October despite the shutdown, according to one report, though another cast doubt on the strength of factory activity growth.

The Institute for Supply Management said its index of factory activity rose to 56.4 in October, its best showing since April 2011. However, the data firm Markit said its index stood at 51.8 last month, the worst since October 2012.

Both figures indicated expansion but the mixed results underscored uncertainty in the economy. This week the Fed said it still sees a need for stimulus. Meanwhile, economists polled by Reuters expect a government report next Friday to show hiring slowed further in October.