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( 06 Nov 2017)
ISM non-manufacturing index hits 60.1 in Oct

The Institute for Supply Management said its non-manufacturing index inched up to 60.1 in October from 59.8 in September, with a reading above 50 indicating growth in the service sector.

"The non-manufacturing sector has reflected the third consecutive month of strong growth," Anthony Nieves, Chair of the ISM Non-Manufacturing Business Survey Committee.

The uptick by the headline index came as the business activity index rose to 62.2 in October from 61.3 in September.

The employment index also crept up 62.8 in October from 63.0 in September, indicating a modest acceleration in the pace of job growth in the service sector.

On the inflation front, the prices index dropped to 62.7 in October from 66.3 in September, suggesting a slowdown in the pace of price growth.