Service Sector's Growth Accelerated In October, ISM Index Indicates

[Purveyor]

Source: Los Angeles Times

By Jim Puzzanghera
November 5, 2013, 8:15 a.m.

WASHINGTON -- The service sector, a crucial driver of the U.S. economy, expanded more than forecast last month as business activity surged in a sign the partial government shutdown was not a drag on sales, a widely watched index indicates.

The Institute of Supply Management said Tuesday that its purchasing managers' index for the service sector rose to 55.4 in October from 54.4 the previous month. Economists had projected just a slight increase to 54.5.

Index readings above 50 indicate the sector is growing.

The increase came after the index tumbled in September from a more than five-year high in August.



Read more: http://www.latimes.com/business/money/la-fi-mo-ism-service-economy-20131105,0,2283521.story#axzz2jn8M35uB

[L0oniX]

1. Service Sector's Growth = butlers, maids, yacht crew, lawn maintainence, limo drivers, etc.