In October, the services sector continued its positive momentum, marking its fourth consecutive month of growth, with the Services PMI reaching 57.2, up from 54.9 in September. This figure is the highest in the past year and indicates robust activity across 14 sectors, including Retail Trade and Health Care, while only two sectors experienced contraction. Key subindexes showed mixed results, with Business Activity and New Orders growing but at a slower pace. Despite challenges like port strikes and inflation concerns, industry experts see steady growth, emphasizing the upcoming elections’ potential impact on economic conditions.

Source: https://www.logisticsmgmt.com/article/services_sector_sees_mild_growth_in_october_reports_ism/