ISM Ser­vice Sec­tor In­dex Shows In­crease in Growth

The Bond Buyer - - Market News - — Gary E. Siegel

The U.S. ser­vices sec­tor ex­panded in Septem­ber as the non-man­u­fac­tur­ing busi­ness ac­tiv­ity com­pos­ite in­dex was 59.8 in the month, com­pared to 55.3 in Au­gust, on a sea­son­ally ad­justed ba­sis, the In­sti­tute for Sup­ply Man­age­ment re­ported Wed­nes­day.

An in­dex read­ing above 50 sug­gests ex­pan­sion. Economists polled by Thom­son Reuters had ex­pected a 55.4 level.

The prices paid in­dex rose to 66.3 from 57.9. The em­ploy­ment in­dex gained to 56.8 from 56.2. The busi­ness ac­tiv­ity/ pro­duc­tion in­dex grew to 61.3 from 57.5, the new or­ders in­dex was at 63.0, up from 57.1; back­log of or­ders climbed to 56.0 from 53.5; new ex­port or­ders in­creased to 56.0 from 55.0; in­ven­to­ries fell to 51.5 from 53.5; in­ven­tory sen­ti­ment dropped to 58.5 from 61.0; and im­ports rose to 52.0 from 50.5.

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