The ISM reports that the services sector experienced growth in October.

In October, the services sector continued to grow for the fourth straight month, as indicated by the Services ISM Report. The Services PMI rose to 57.2, up 1.1% from September’s 54.9, which had also shown an increase. This October reading marks the highest in the past year and exceeds the 12-month average of 52.2. Fourteen tracked sectors, including Retail, Transportation, and Finance, reported growth, while Other Services and Management of Companies experienced contraction.