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.

Source: https://www.scmr.com/article/services-sector-sees-growth-in-october-reports-ism