Mumbai, Nov. 6 -- The Institute for Supply Management released a report on Wednesday showing U.S. service sector activity returned to expansion in the month of October.
The ISM said its services PMI climbed to 52.4 in October after falling to 50.0 in September, with a reading above 50 indicating growth.
With the bigger than expected increase, the services PMI reached its highest level since hitting 53.5 in February.
The rebound by the headline index partly reflected a turnaround by business activity, as the business activity jumped to 54.3 in October from 49.9 in September.
The new orders index also surged to 56.2 in October from 50.4 in September, reaching its highest level since hitting 56.7 in October 2024.
The ISM said the employme...