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MENAFN - 06/11/2012

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(MENAFN) The US Institute for Supply Management (ISM) said that last month, the Non-Manufacturing Index (NMI) fell by 0.9 percentage point from September to 54.2 percent, reported Xinhua News.

Although the reading on the index, which gauges activity in the country's service sector, declined from September, however, it posted an expansion for the 34th consecutive month.

New orders, a sign of future business, fell in October to 54.8 from 57.7 in the previous month, whereas the survey's employment component went up by 3.8 percentage points to 54.9.

13 US industries posted growth in the month, including construction and real estate, nevertheless, 5 industries, including mining and wholesale trade, posted declines.

It is worth noting that the NMI survey covers all sectors outside of manufacturing, with a reading more than 50 indicating expansion of the service sector, which accounts for nearly 90 percent of the US workforce.

 






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