India, Nov. 4 -- Service sector growth in the U.S. saw a modest slowdown in the month of October, according to a report released by the Institute for Supply Management on Wednesday.
The ISM said its services PMI edged down to 54.5 in October after dipping to 54.9 in September, although a reading above 50 still indicates growth. Economists had expected the index to slip to 54.7.
The modest decrease by the headline index partly reflected a slowdown in the pace of growth in new orders, as the new orders index slid to 55.9 in October from 59.8 in September.
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