US services sector growth eases in October
US services sector growth slowed marginally in October as new orders moderated and supply chains remained strained. The Institute for Supply Management index dipped to 54.5, while input prices stayed elevated due to ongoing logistical pressures.
United States services sector activity dipped to 54.5 in October from 54.9 in September as new orders cooled. The Institute for Supply Management reported the reading on Tuesday, signaling solid fourth-quarter growth despite persistent inflationary pressures. The services sector accounts for more than two-thirds of the American economy.
