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Economic activity in the non-manufacturing sector grew in October at a faster rate than September, according to the Institute for Supply Management’s Non-Manufacturing Report on Business released today.
The institute’s non-manufacturing index rose in October to a reading of 55.4, up from September’s reading of 54.4. Readings above 50 indicate growth.
The employment portion of October’s index rose to a reading of 56.2, up from 52.7 in September.