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US nonmanufacturing activity decelerates in October, employment metric also falls

November 05 2018

Economic activity in the US nonmanufacturing sector decelerated in October, according to the Institute for Supply Management’s nonmanufacturing index, released today.

ISM’s nonmanufacturing index fell to a reading of 60.3 in October from a reading of 61.6 in September.

Readings above 50 generally indicate improving conditions.

The employment portion of the index decreased 2.7 percentage points in October to 59.7, down from September’s reading of 62.4. Ten industries reported increased employment, and three industries reported decreased employment.

Comments from respondents include: “Low unemployment causing team members to leave for higher wages in other businesses and industries,” and “challenging to replace vacant positions.”

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