ISM Service Index Edges Down To 50.6 In October

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15:06 GMT

Nov 2009

ISM Service Index Edges Down To 50.6 In October

(RTTNews) - While the Institute for Supply Management released a report on Wednesday showing that activity in the service sector grew for the second consecutive month in October, the pace of growth unexpectedly slowed compared to the previous month.

The ISM said its index of activity in the service sector edged down to 50.6 in October from 50.9 in September, with a reading above 50 indicating growth in the sector. The decrease by the index came as a surprise to economists, who had expected the index to rise to 51.5.

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