Wednesday, November 03, 2010
Service sector up: two out of three isn't bad
Posted by David Smith at 11:00 AM
Category: Thoughts and responses

The pick-up in the service sector purchasing managers' index from 52.8 in September to 53.2 in October followed a rise in the manufacturing PMI earlier in the week. Though the construction index fell, the fact that two out of three of these indexes rose suggests the fourth quarter has got off to a reasonable start.

Though not all components of the service sector index were strong - the employment component remained below the crucial 50 level - the overall index beat market expectations, as did the manufacturing PMI.