Manufacturing activity rebounded in October in the United States, with the Markit Flash U.S. Manufacturing PMI jumping to its highest level since May. The composite measure rose from 53.1 in September to 54.0 in October, boosted by stronger output growth and a shift to slightly positive exports. At the same time, new orders and employment both declined slightly for the month. The data suggests modest growth in demand and production for manufacturers in the U.S., even though the rate of growth for each remains slower than what was observed in the spring, according to Chad Moutray, chief economist for the National Association of Manufacturers. The overall index peaked in March, but activity has decelerated since.