Royal Oak Tribune

Services sector expands for 5th straight month


SILVER SPRING, MD. » The U. S. services sector, where most Americans work, registered its fifth consecutiv­e month of expansion in October. The Institute for Supply Management reported Wednesday that its index of services activity ticked down to a reading of 56.6 last month, from September’s reading of 57.8. Any reading above 50 signifies expansion in services industries such as restaurant­s, department stores and delivery companies. The index registered sharp contractio­ns in April and May as shutdowns aimedat containing the coronaviru­s closed many businesses and put millions of Americans out of work. But starting in June, the index began to rise again and is just below its February level of 57.3.

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