(MENAFN - Kuwait News Agency (KUNA)) Growth in the U.S. service sector slowed in October compared to the previous month, a new report showed here Monday.
The Institute for Supply Management (ISM) indicated that the NMI registered 54.2 percent in October, 0.9 percentage point lower than the 55.1 percent registered in September, indicating a continued growth this month at a slightly slower rate in the non-manufacturing sector.
Also the Non-Manufacturing Business Activity Index registered 55.4 percent, which is 4.5 percentage points lower than the 59.9 percent reported in September, reflecting growth for the 39th consecutive month.
The New Orders Index decreased by 2.9 percentage points to 54.8 percent, whereas the Employment Index increased by 3.8 percentage points to 54.9 percent, indicating growth in employment for the third consecutive month.
The Prices Index decreased 2.5 percentage points to 65.6 percent, indicating prices increased at a slower rate in October when compared to September.