Economic Buzz: US ISM services sector activity grows in September

Growth in activity in the United States services industry continued in September, the Institute for Supply Management (ISM) reported on Monday. ISM Services Purchasing Managers' Index (PMI) stood at 54.9% in September, down by 0.5 percentage point compared to the month before.

The Business Activity Index declined by 5.2 percentage points to 56.5%, while the New Orders Index fell by 1.1 percentage points to 59.8%. The Employment Index rose by 2.3 percentage points to 50.1%, returning to expansion territory. The Prices Index rose by 1.4 percentage points to 74%, its highest level since July 2022.

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