US service sector cools in October
U.S. services industry activity slowed in October, with growth in new orders and employment moderating. The primary reason for this could be waning fiscal stimulus and a resurgence in new COVID-19 cases across the nation. The ISM reported on Monday that factory activity accelerated in October as new orders surged to their highest level in nearly 17 years. The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing activity index fell to a reading of 56.6 last month from 57.8 in September. To know more on this, click here.
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