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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.
In recent trades, the U.S. stock market
DJIA,
rose.
