U.S. services sector activity improves more than initially estimated - IHS Markit

Market news

4 November 2020

U.S. services sector activity improves more than initially estimated - IHS Markit

The latest report by IHS Markit revealed on Wednesday the seasonally adjusted final IHS Markit U.S. Services Business Activity Index (PMI) stood at 56.9 in October, up from 54.6 in September and higher than the earlier released “flash” estimate of 56.0. The latest reading pointed to the sharpest expansion in the services sector since April 2015.

According to the report, the quicker rate of growth was largely linked to more robust demand conditions, despite a slower upturn in new export business.

U.S.: ISM Non-Manufacturing, October 56.6 (forecast 57.5)

Canada’s trade deficit widens to 3.25 billion in September

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