USA: growth picks up in services, according to the ISM

(CercleFinance.com) - Growth in US service sector activity accelerated in September, according to the Institute for Supply Management's (ISM) monthly survey of purchasing managers.


The ISM index of service sector activity came in at 54.9 last month, up 3.4 points on August's figure of 51.5. Economists were expecting a much more limited rise, to 51.6.

Economists were expecting a much more limited rise, to 51.6.

While the new contracts sub-index jumped to 59.4 from 53 the previous month, the employment sub-index fell back into contraction territory, to 48.1 from 50.2 in August.

The prices paid by service companies component rose to 59.4 from 57.3 the previous month.

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