3M Shows Growth Is Here to Stay in October Update

3M's (NYSE: MMM) latest sales figures for October helped allay fears that the industrial sector would simply stagnate after the bounce in the third quarter. In short, there was good news in the headline figure of 3% increase in total sales, and the segmental data continue to suggest an ongoing recovery is in place.

There's a lot more to 3M's growth prospects than just N95 masks. Image source: Getty Images.

Going back to the third-quarter earnings report released at the end of October, management had forecasted total sales for that month to range from "flat to up [to] low-single digits year-on-year." Therefore, the 3% reported in the recent update comes right at the top of management's guidance range.

Source Fool.com