A gauge of U.S. service industries unexpectedly rose to a near-record level in September, an Institute for Supply Management survey showed Oct. 3, offering fresh evidence of strength in the biggest part of the economy.
Highlights of ISM Non-Manufacturing (September)
- Non-manufacturing index rose to 61.6 (est. 58) from 58.5; readings above 50 indicate expansion
- Measure of business activity increased to 65.2, highest since January 2004, from 60.7
- Employment measure jumped to a record 62.4 from 56.7
Key Takeaways
The reading topped all estimates in Bloomberg’s survey of economists, underscoring continued strength at service companies amid solid consumer demand underpinned by ...
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