The large service side of the U.S. economy grew faster in October after hitting a delta speed bump a month earlier and manufacturers also expanded rapidly even in the face of worsening supply bottlenecks.
A survey of senior business executives in service-oriented companies such as retailers and banks rebounded to a three-month high of 58.2 this month from 54.9 in September, IHS Markit said Friday.
A similar survey of manufacturers slipped to 59.2 from 60.7, but it was still quite high. Any reading over 50 signals growth and numbers are above 55 are exceptional.
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