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Post by bot on Nov 5, 2013 23:04:28 GMT -5
ISM services index rises to 55.4% in October
WASHINGTON (MarketWatch) - U.S. service-sector companies expanded at a faster pace in October, according to the Institute for Supply Management. The ISM said its survey of purchasing managers - executives who buy supplies for their companies - rose to 55.4% last month from 54.4% in September. Economists surveyed by MarketWatch had expected the index to dip to 54.0%. Reading over 50% indicate more companies are expanding instead of shrinking. Twelve of the 18 industries tracked by ISM reported growth last month, up from 11 in September. The ISM's production gauge climbed to 59.7% from 55.1% but the new-orders index fell to 56.8% from 59.6%. The employment gauge, a measure of hiring intentions, rose to 56.2% from 52.7%.
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