U.S. Economy: Services Expand Most in Three Months

Services in the U.S. expanded in October at the fastest pace in three months, indicating the recovery is gaining strength even as central bankers loosen monetary policy.

The Institute for Supply Management’s index of non-manufacturing businesses, which covers about 90 percent of the economy, rose to 54.3 from 53.2 in September. Readings greater than 50 signal growth. A separate report showed factory orders in September climbed more than forecast by economists.