US service sector growth slows in October at 56.6%: survey

Washington (AFP) – The US services sector continued to grow in October but at a slower-than-expected rate compared to the prior month as the economy recovers from the coronavirus pandemic, according to an industry survey released Wednesday.The Institute for Supply Management’s (ISM) services index slipped to 56.6 percent last month, reflecting softening in the dominant sector of the world’s largest economy just before voters headed to the polls on Tuesday to vote in the presidential election.Services contracted sharply as the pandemic struck but has gained ground in recent months as businesses…

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