US Services Growth Remains at Solid Pace, Price Pressures Ease
- Measures of business activity, orders softer but elevated
- Index of service provider employment highest in six months
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Growth at US service providers remained firm in September, reflecting solid business activity and orders, while a measure of prices fell to the lowest since the start of 2021.
The Institute for Supply Management’s gauge of services softened to 56.7 last month from 56.9 in August, according to data released Wednesday. Readings above 50 signal growth and the figure was slightly firmer than the median projection of 56 in a Bloomberg survey of economists.