Home / NEWS / Economy / US services companies growth rebounds in October

US services companies growth rebounds in October

An worker helps a guest at the Waldorf Astoria in New York City.

Getty Images

U.S. service companies grew at a faster tempo in October after sinking to a three-year low in September.

The Institute for Supply Management, an association of purchasing managers, reported Tuesday that its employment index grew to 54.7% last month, up from 52.6% in September. Any reading above 50 signals progress.

Measures of sales, new orders and employment all rebounded from the previous month.

The service sector, which accounts for more than two-thirds of U.S. financial activity, has been expanding for 117 straight months, according to the survey-based ISM index.

Companies surveyed for the index say they are unruffled having some difficulty finding workers, due to a historically low 3.6 percent unemployment rate.

Check Also

U.S. budget deficit surged in February, passing $1 trillion for year-to-date record

The U.S. Bank Building is seen from the Washington Monument on a cold, winter day …

Leave a Reply

Your email address will not be published. Required fields are marked *