US: ISM non-manufacturing PMI rises to 60.1 in October from 59.8 in September

"The Non-Manufacturing ISM registered 60.1 percent, which is 0.3 percentage point higher than the September reading of 59.8 percent," reported the Institue for Supply Management on Friday.

Key highlights

This represents continued growth in the non-manufacturing sector at a slightly faster rate.

This is the highest NMI reading since the index’s debut in 2008.

The Non-Manufacturing Business Activity Index increased to 62.2 percent, 0.9 percentage point higher than the September reading of 61.3 percent.

The New Orders Index registered 62.8 percent, 0.2 percentage point lower than the reading of 63 percent in September.

The Employment Index increased 0.7 percentage point in October to 57.5 percent from the September reading of 56.8 percent.

The Prices Index decreased by 3.6 percentage points from the September reading of 66.3 percent to 62.7 percent, indicating prices increased in October for the fifth consecutive month.