US non-manufacturing sector continues expansion in Oct


Washington, Nov 4 (IANS): Non-manufacturing activity in the US continued faster expansion in October, signaling the economy's robust growth, the Institute for Supply Management said.

The Non-Manufacturing Index (NMI), which measures activity in the US service sector, rose 0.3 percentage point to 60.1 in October, the fastest growth since August 2005, Xinhua news agency quoted the Institute for Supply Management (ISM) as saying in its monthly survey on Friday.

The NMI survey covers all sectors outside of manufacturing. A reading above 50 per cent indicates expansion of the service sector.

The business activity index went up 0.9 point to 62.2; the new orders component of the index, a signal of future business, went down 0.2 point to 62.8; and the employment index also increased 0.7 point to 57.5.

Of the 18 industries tracked by the NMI, 16 industries reported growth, while only educational service and arts and entertainment industries reported contraction.

Respondent comments continue to indicate a positive outlook for business conditions and the economy as entering in the fourth quarter, said the ISM.

  

Top Stories


Leave a Comment

Title: US non-manufacturing sector continues expansion in Oct



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.