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U.S. Oct. ISM non-manufacturing rises to 64.7%

WASHINGTON (CBS.MW) -- The services side of the U.S. economy grew for the seventh month in a row in October, the Institute for Supply Management said Wednesday.
The ISM non-manufacturing index rose to 64.7 percent from 63.3 percent in September. The rise was unexpected.
The consensus forecast of Wall Street economists was for the IMF non-manufacturing index to slip to 63.2 percent.
Readings over 50 percent indicate that purchasing managers at most firms surveyed said business was getting better or no worse.
Thirteen industries reported growth, three reported no change and one said business was worse.

U.S. Sept factory orders up 0.5% vs 0.7% forecast

WASHINGTON (CBS.MW) -- Despite a sharp falloff in demand from the Pentagon, orders for new factory goods rose 0.5 percent in September and the decline in August orders was shallower than earlier estimated, the Commerce Department said Wednesday.
Orders for factory goods in August fell a revised 0.3 percent, less than half the 0.8 percent decline initially estimated by the department.
Excluding the 26.9 percent drop in orders for defense capital goods, total orders rose 1.5 percent.
Excluding transportation, total orders rose 0.6 percent in September.
Orders for non-defense capital goods rose 4.1 percent in September, the highest monthly increase since October of last year.

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ISM services 63,2%/63.3%/64.7%
Factory orders +0.6%/-0.8%/+0.5%

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