BREAKING NEWS
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Services sector expands for fifth straight month
Read full article: Services sector expands for fifth straight month– The U.S. services sector, where most Americans work, registered its fifth consecutive month of expansion in October. The Institute for Supply Management reported Wednesday that its index of services activity ticked down to a reading of 56.6 last month, from September's reading of 57.8. Any reading above 50 signifies expansion in services industries such as restaurants, department stores and delivery companies. Sixteen of the 18 service sector categories reported growth in October, with just arts, entertainment and recreation and public administration reporting contraction. The services sector had been growing for 122 consecutive months before it fell into contraction territory in April and May as widespread shutdowns took hold.
