Mumbai, Nov. 6 -- The headline S&P Global US Services PMI Business Activity Index edged higher in October, rising to 54.8 from September's 54.2. Remaining above the critical 50.0 no-change mark for a thirty-third successive month, the index was consistent with a marked rate of growth that was slightly above the survey trend.
Latest PMI survey data from S&P Global showed that the US service sector registered a solid and accelerated pace of activity growth during October.
Higher service sector output was accompanied by a firm rise in incoming new business, although an uncertain economic and political outlook reportedly meant that hiring growth was modest and confidence about the future fell to a six-month low.
Moreover, selling price infla...