Monday, Sep 26, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Business

U.S. service sector notches second month of small growth

NEW YORK - The U.S. service sector grew for a second straight month in October, but at a slower pace than in September, as a broad economic recovery creeps along.

The Institute for Supply Management said yesterday that its service index dipped to 50.6 last month from 50.9. Any reading above 50 signals growth. Analysts polled by Thomson Reuters had expected a 51.5 for the index that tracks the country's hospitals, retailers, financial services companies, and truckers.

But new orders, an augur of future activity, rose to 55.6, from 54.2 in September. Business activity also rose.

Still, the decline in employment worsened. The employment tracker has contracted for 21 of the past 22 months.

In the survey, nine industries said their businesses grew last month, with real estate, construction, corporate management, and support services showing the biggest gains. Seven sectors contracted. The index tracks more than 80 percent of the country's economic activity.

Points of Interest
Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…