by John Carney
Breitbart.com
The U.S. services sector expanded in September at the fastest pace in nearly two years, driven by a flurry of orders and stronger business activity.
The Institute for Supply Management’s index of services rose 3.4 points to 54.9 last month, data released Thursday showed. Readings above 50 indicate expansion.
The reading exceeded even the most bullish estimates from Wall Street economists.
The measure of orders rose 6.4 points, the most since the start of 2023. The output gauge rose 6.6 points to 59.9 but the employment metric slipped, the first contraction in three months.
The prices-paid index climbed 2.1 points to 59.4, indicating rising inflationary pressures.