ISM non-manufacturing bounces back in October

President Trump talks about how China is now paying the United States through tariffs and is also buying from American farmers. He also mentions how many jobs have been created during his presidency.

The U.S. services sector rebounded in October after hitting a three-year low in September.

The ISM non-manufacturing index rose 2.1 percentage points to 54.7 as respondents remained “concerned about tariffs, labor resources and the geopolitical climate,” according to the Institute for Supply Management. A reading above 50 signals the sector is growing.

Business activity, new orders and employment all showed improvement while prices fell.

The services sector makes up about two-thirds of the U.S. economy.

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The upbeat report on the services sector comes days after a separate report showed America’s manufacturing sector remained in contraction last month. ISM manufacturing rose 0.5 percentage points to 48.3, ending a six-month streak of worsening numbers.