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Service Industries in U.S. Show Expansion’s Resilience

Service industries in the U.S. kept growing in October, a sign the biggest part of the economy is withstanding a global slowdown.

The Institute for Supply Management’s non-manufacturing index declined to 54.2 last month from 55.1 in September, the Tempe, Arizona-based group said today. A measure above 50 signals expansion in industries that account for almost 90 percent of the economy. The October figure exceeded the third-quarter average.