U.S. service sector picks up growth pace despite October shutdown

11/6/2013 | Bloomberg

Despite a partial government shutdown, the U.S. service sector extended its record of growth for another month in October, with the Institute for Supply Management's nonmanufacturing index rising to 55.4 from 54.4 in September. "Housing continues to be cited as an underlying source of growth for both manufacturing and nonmanufacturing firms. Activity continues to expand at a steady pace," said Ryan Wang, an economist at HSBC Securities USA.

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