MW: U.S. Oct. ISM nonmanufacturing index dips to 50.6%
By Rex Nutting
WASHINGTON (MarketWatch) - Business conditions improved in October across a narrower group of companies in the U.S. nonmanufacturing sectors, according to the Institute for Supply Management index released Wednesday. The ISM nonmanufacturing index fell to 50.6% from 50.9% in September. Readings above 50% indicate more firms said business is improving than said it's worsening. It's the second straight month above 50% after 11 months of contraction. Economists surveyed by MarketWatch were expecting the ISM nonmanufacturing index to rise to 51.5%. The new orders index rose to 55.6% from 54.2%. The production index rose to 55.2% from 55.1%. The employment index fell to 41.1% from 44.3%.
