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Economic activity in the non-manufacturing sector continued to expand in October but at a slower pace than September, according to the Institute for Supply Management’s non-manufacturing report on business released today.
ISM’s non-manufacturing business activity index slipped in October to a reading of 54.2 from September’s reading of 55.1. Readings above 50 indicate growth and October marked the third consecutive month of readings above 50.
However, the employment portion of the index rose to a reading of 54.9 in October from September’s reading of 51.1.