Services Probably Sustained Expansion: U.S. Economy Preview

Service industries in the U.S. probably kept growing in October, lifted by gains in consumer spending that are helping bolster the expansion, economists said before a report this week.

The Institute for Supply Management’s non-manufacturing index, which covers almost 90 percent of the economy, was at 54.5 last month, little changed from 55.1 in September, according to the median forecast in a Bloomberg survey before tomorrow’s figures. Readings above 50 signal growth. Another report this week may show the trade deficit widened in September as exports cooled.