According to the latest ISM Report on Business, economic activity in the manufacturing sector expanded in October, and the overall economy grew for the 89th consecutive month.

Bradley J. Holcomb, chair of the Institute for Supply Management’s Manufacturing Business Survey Committee issued the report.

According to Holcomb, the October PMI registered 51.9%, an increase of 0.4% from the September reading of 51.5%.

The production and employment indices both registered increases as well, with production up to 54.6%, 1.8 percentage points higher than the September reading of 52.8%t. Meanwhile, the employment index came in at 52.9%, an increase of 3.2% from the September reading of 49.7%.

The prices index also took a step forward, rising 1.5% to 54.5% in October. This indicates higher raw material prices for the eighth straight month.

While the PMI increased, the new orders index dropped 3% to 52.1% from the 55.1% reading in September. Inventories of raw materials also remained on a downward trajectory, falling to 47.5%.

Of the 18 manufacturing industries, 10 reported growth in October including textile mills, miscellaneous manufacturing, nonmetallic mineral products as well as computer and electronic products. Primary metals, wood products and transportation equipment were among the eight industries that reported contraction in October.

The ISM included a question regarding the Hanjin Shipping bankruptcy in its monthly survey, asking what type of impact the bankruptcy would have on their businesses this quarter. Most said there will be no impact (51.9%), while more than a quarter expect a small but immaterial effect (29.7%).