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WASHINGTON: The US services sector, which makes up the bulk of the nation's economy, expanded in October for the second month running but at a slower pace, a private survey showed on Wednesday.
The Institute of Supply Management said its non-manufacturing index dipped to 50.6 percent last month, after 50.9 percent in September.
The October expansion was less than the 51.5 percent reading expected by most analysts for the index, where a 50.0 percent break-even point separates expansion and decline.
"Respondents' comments remain mixed and are mostly cautious about business conditions and the overall economy," the ISM said.
The national survey of purchasing and supply executives found that non-manufacturing business activity edged up 0.1 percentage point to 55.2 percent, the third consecutive month of growth since September 2008.
The new orders sub-index rose for the second straight month, to 55.6 percent from 54.2 percent.
Employment in the services sector declined for the 18th month and at a faster pace in October, the ISM said. The employment sub-index tumbled to 41.1 percent from 44.3 percent.
The services sector survey was released short after payrolls firm ADP reported the US private sector shed 203,000 jobs in October, the seventh month in a row that employment declines were smaller than in the previous month.
The ADP survey, a snapshot of non-farm private employment that offers a clue on the direction of the US labour market, comes ahead of Friday's official October labour market data, expected to show the unemployment rate rising to 9.9 percent.
An ISM manufacturing survey published Monday showed factory activity expanding in October for the third consecutive month. - AFP/de
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