US Services Activity Expands at Fastest Pace Since Early 2023
- ISM services PMI rose to 54.9, exceeding all forecasts
- September survey showed faster orders growth, prices paid
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US service providers expanded in September at the fastest pace since February 2023, driven by a flurry of orders and stronger business activity.
The Institute for Supply Management’s index of services advanced 3.4 points to 54.9 last month, the group said Thursday. Readings above 50 indicate expansion, and the latest figure exceeded all projections in a Bloomberg survey of economists.