US Services Sector Growth Moderates in October Amid Persistent Inflation

The U.S. services sector experienced a slight slowdown in October, with the ISM non-manufacturing PMI decreasing to 54.5 from 54.9 in September. Despite this moderation in new orders, supply chain issues persisted, contributing to continued elevated input prices. This indicates ongoing inflationary pressures within the services economy, which could influence future economic policy decisions.