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The Institute of Supply Management (ISM) released its non-manufacturing purchasing manager's index for the U.S. today. The index declined to 57.1 in October from 58.6 in September, missing expectations for a fall to 58.2.
Many of the ISM indexes decreased in October. The ISM's new orders index fell to 59.1 last month from 61.0 in September.
The ISM business activity index declined to 60.0 in October from 62.9 the previous month.
The ISM employment index rose to 59.6 last month from 58.5 in September.
A reading above 50.0 indicates expansion of the non-manufacturing sector economy, below 50.0 indicates contraction of the sector.
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