(Sharecast News) - Services sector activity in the US picked up last month, led by a rise in new orders.
The Institute for Supply Management's Purchasing Managers' Index improved from a reading of 56.9 for August to 57.8 in September.
Analysts had forecast a reading of 56.3.
Hiring also made a reappearance, with the corresponding sub-index rising from 47.9 to 51.8.
The pace of new orders also quickened, with a subindex linked to them increasing from 56.8 to 61.5.
Supplier deliveries meanwhile sped up, as indicated by a drop in this case in the sub-index tracking them, from 60.5 to 54.9.
Order backlogs, new export orders and prices gains meanwhile all slowed, as did imports.
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