ISM Business Activity Index for Services Shows Expansion for the 11th Straight Month in October

"ISM's Non-Manufacturing Business Activity Index in October registered 58.4 percent, an increase of 5.6 percentage points when compared to the 52.8 percent registered in September (see chart above). Ten industries reported increased business activity, and three industries reported decreased activity for the month of October. Five industries reported no change from September."

Comments from respondents include: "Continued strength in core businesses and capital expenditures for balance of 2010" and "Increase in service calls/requests for service."

MP: The 5.6 point increase in October was the largest monthly gain in the Business Activity Index since a 10.6 point jump in February 2008, and the third highest gain in the last decade. October marked the 11th consecutive month of expansion in business activity in the service sector of the U.S. economy.