Positive macroeconomic statistics from the United States | 04 نوفمبر 2021

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A measure of U.S. services industry activity surged to a record high in October likely as declining COVID-19 cases. The Institute for Supply Management said its non-manufacturing activity index vaulted to a reading of 66.7 last month. That was the highest since the series started in 1997 and followed a 61.9 reading in September. A reading above 50 indicates growth in the services sector, which accounts for more than two-thirds of U.S. economic activity. The ISM survey’s measure of new orders received by services businesses soared to a record last month. Spending is shifting from goods to services. Strengthening demand for services boosted hiring in the leisure/hospitality sector, leading to a pick-up in private payrolls.

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