NEW YORK – The pace of growth in the vast U.S. services sector picked up in September as new orders accelerated, though employment cooled, an industry report showed on Wednesday.
WILLIAM LARKIN, FIXED INCOME PORTFOLIO MANAGER, CABOT MONEY MANAGEMENT, SALEM, MASSACHUSETTS
"It indicates a little bit of growth. This is good information ahead of the monthly employment report. It looks more like things are heading in the right direction. It is this new reality -- we don't have robust growth, we just have very moderate growth."
STEPHEN STANLEY, CHIEF ECONOMIST, PIERPONT SECURITIES, STAMFORD, CONNECTICUT
"It's in line with the factory report on Monday. We have seen a few reports now that seem to show things might have picked up in September, although it's not a strong improvement. Perhaps people are feeling better even though businesses are not. We have not broken out of the 1 to 2 percent growth range for this year."
STOCKS: U.S. stocks slipped.
(Americas Economics and Markets Desk; +1-646 223-6300)