Friends of Manufacturing

Survey: US services sector posts strongest gains in 12 years


U.S. services companies in October grew at the best rate in more than a dozen years.

The Institute for Supply Management said Friday that its services index rose last month to 60.1 from 59.8 in September. Any reading above 50 signals expansion. The October reading was the biggest since August 2005. The services sector has reported growth for 94 consecutive months.

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