U.S. services sector activity slows a tad in September, ISM says
By Alexander Bueso
Date: Wednesday 04 Oct 2023
(Sharecast News) - Service sector activity in the U.S. ebbed slightly in September, the results of a closely followed survey showed.
The Institute for Supply Management's services sector Purchasing Managers' Index dipped from a reading of 54.5 for August to 53.6 in September.
Economists had penciled in a reading of 53.5.
Whilst a sub-index for production levels rose from 57.3 to 58.8, that for new orders dropped from 57.5 to 51.8.
Even so, most respondents appeared to be upbeat regarding the outlook for their subsectors.
A key gauge tracking the prices paid by companies was unchanged at 58.9.
A sub-index for employment meanwhile dipped from 54.7 to 53.4.
-- More to follow --
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