Non-Manufacturing Sector Gains Momentum In October

Grow rate gain of 4.2 points contrasts with manufacturing's 4.2-point decline.

The non-manufacturing sector of the U.S. economy -- which includes utilities, construction, and financial services -- grew faster in October than in September, according to data released Nov. 3 by the Institute for Supply Management (ISM), Tempe, Ariz.

The ISM index for non-manufacturing advanced 4.2 percentage points last month to 57.1%, a dramatic contrast to ISM's manufacturing index, which fell 4.2 points in October to 51.9%.

A figure above 50% indicates the sector is growing; a figure below 50% signals the sector is contracting.

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