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U.S. markets recover from steep losses
TEMPE, Ariz., Oct. 5 (UPI) -- Growth in U.S. service industries accelerated in September, the Institute for Supply Management said Tuesday.
With numbers above 50 indicating growth, the new orders index for non-manufacturing businesses rose from 52.4 to 54.9 in the month. The employment index rose from a negative 48.2 to 50.2 while the headline Purchasing Managers Index remained above 50 for the ninth consecutive month, climbing from 51.5 to 53.2. A PMI reading above 50 indicates growth.
Eleven of 17 service industries tracked in the report showed growth, two more than a month ago. September's growth was lead by the management of companies and support services, followed by information services, scientific and technical services and wholesale trades.
In a statement, Anthony Nieves, the chair of the Non-manufacturing Business Survey Committee, said, "Respondents' comments continue to be mixed about business conditions, with a slight majority reflecting optimism."
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