10/5, 4:01 PM (Source: TeleTrader)
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ISM: US services sector resumes growth in Sept.

The growth in activity in the United States services sector continued to expand in September for the 28th consecutive month, the Institute for Supply Management (ISM) stated in its report published on Wednesday. The Services Purchase Managers' Index (PMI) came in t 56.7%, which is 0.2 percentage points lower compared to the figure observed in August but still slightly higher than predicted.

The Business Activity Index stood at 59.1%, declining by 1.8 percentage points in contrast with the previous month. The New Order Index dropped by 1.2 percentage points month-on-month to 60.6%. Over the same period, the Prices Index went down by 2.8 percentage points to 68.7%.

"[T]here have been improvements regarding supply chain efficiency, operating capacity and materials availability; however, performance remains less than ideal. Employment continued to improve despite the restricted labor market," ISM Business Survey Committee Chair Anthony Nieves commented.

Baha Breaking News (BBN) / JR