US SERVICES ACTIVITY HITS EIGHT-MONTH HIGH

U.S. services sector activity increased to an eight-month high in October as new orders grew solidly, but subdued employment pointed to lackluster labor market conditions against the backdrop of economic uncertainty stemming from tariffs.

Comments from businesses in the Institute for Supply Management survey released on Wednesday were mixed. Some viewed activity as flat while the import duties and the ongoing shutdown of the federal government were headaches for others. But some companies struck an optimistic note, reporting business was solid or picking up.

Learn More