Thursday, December 01, 2022
name of Prensa Latina
Bandera inglesa
English Edition
name of Prensa Latina

NEWS

NEWS

U.S. service sector growth solid in September, price pressures easing

servicios-eeuu

U.S. service sector growth solid in September, price pressures easing

Washington, Oct 5 (Prensa Latina) The U.S. services industry slowed modestly in September.

The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing PMI dipped to a reading on 56.7% in September from 56.9% in August. Economists polled by Reuters had forecast the non-manufacturing PMI falling to 56.0%.

Also, the ISM detailed that employment surged and a measure of prices paid by businesses for inputs dropped to over a 1-1/2-year low, suggesting underlying strength in the economy despite rising interest rates.

A reading above 50% indicates expansion in the services sector, which accounts for over two-thirds of U.S. economic activity.

Likewise, specialists stated the economy is slowing as the Federal Reserve aggressively tightens monetary policy to quell inflation.

The U.S. central bank has hiked its policy rate from the near-zero level at the beginning of this year to the current range of 3.00% to 3.25%, and last month signaled more large increases were on the way this year.

Pll/jcm/yag

RELATED
ÚLTIMO MINUTO
name of Prensa Latina

| Text SMS to 8100 with content PL
Receive 4 mesages x 25 cup

© 2016-2021 Prensa Latina
Latin American News Agency

Radio – Publications  – Videos – News by the minute.
All Rigts Reserved.

St. E No 454 , Vedado,  Habana, Cuba.
Phones: (+53) 7 838 3496, (+53) 7 838 3497, (+53) 7 838 3498, (+53) 7 838 3499
Prensa Latina © 2021 .

Web Site developed by IT Division  Prensa Latina.