• US services firms' growth slipped in Oct. after record Sept

    10 days ago - By Chron

    WASHINGTON - U.S. services firms expanded at a slightly slower rate in October, after achieving a record pace in September in a sign of the economy's strength and endurance.
    The Institute for Supply Management, which is composed of purchasing managers, reported Monday that its services index dipped to 60.3 in October, down from 61.6 in September. Readings above 50 point to further growth. Services companies have been expanding for 105 months, or nearly nine years.
    "I was surprised it came in as strong as it did," said Anthony Nieves, chair of the ISM's services survey committee.
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