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 NEW YORK (AP) - The U.S. service sector grew for a second straight month in October, but at a slower pace than in September, as a broad economic recovery creeps along.
The Institute for Supply Management said Wednesday that its service index dipped to 50.6 last month from 50.9. Any reading above 50 signals growth. Analysts polled by Thomson Reuters had expected a 51.5 for the index that tracks the country's hospitals, retailers, financial services companies and truckers.
But new orders, an augur of future activity, rose to 55.6, from 54.2 in September. Business activity also rose.
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