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  • NEWS Desk Global

US SERVICES SECTOR GROWTH SLOWS MODERATELY

The U.S. services sector slowed in September as new orders fell to a nine-month low, but the pace remained consistent with expectations for solid economic growth in the third quarter.

The survey from the Institute for Supply Management (ISM) on Wednesday also showed services sector inflation remaining elevated last month and employment slowing only gradually. The economy's resilience, 18 months after the Federal Reserve started raising interest rates to cool demand, suggests that monetary policy could remain tight for some time.



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