WASHINGTON (AP) — Activity at U.S. service firms accelerated in October behind a jump in sales and more hiring, suggesting businesses largely shrugged off the partial government shutdown.
The Institute for Supply Management said Tuesday that its service-sector index rose to 55.4 in October, up from 54.4 in September. Any reading above 50 indicates expansion.
The expansion at service firms echoes an ISM survey of manufacturers released last week, which showed the fastest growth at factories in 2 ½ years. Combined, the two reports suggest the private sector is showing steady growth and was not greatly affected by the shutdown.
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