Financial Times FT.com

US service sector grows in October

By Shannon Bond in New York

Published: November 4 2009 16:46 | Last updated: November 4 2009 16:46

The US service sector grew in October for the second month in a row but at slower rate than expected, as rising unemployment continues to weigh on the economy.

The Institute for Supply Management’s non-manufacturing index dipped to 50.6 in October from 50.9 in September. Analysts surveyed by Thomson Reuters had expected a rise to 51.5. A reading above 50 indicates expansion.

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