US services sector activity picks up more than expected in October - IHS Markit
Activity in America's services sector accelerated last month at its fastest clip since April 2015, the results of a closely-followed survey revealed.
IHS Markit's Purchasing Managers' Index for the sector was revised up to a print of 56.9, up from a preliminary reading of 56.0.
However, the survey compiler highlighted the slower upturn in new export business and easing capacity restraints despite more robust demand.
On the flip-side, new business picked up for a second month running, rising at its fastest pace since February 2019, offset by lower new export orders.
Optimism for the year ahead also improved, with a sub-index tracking firms' confidence improving to its strongest level since April 2018.