Bloomberg (05/11) -- The Institute for Supply Management’s U.S. non-manufacturing index increased to 55.4 in October from 54.4 the prior month, a report from the Tempe, Arizona-based group showed today.Estimates of the 79 economists in the Bloomberg survey for the October reading ranged from 52 to 56.3. From July 2009, a month after the last recession ended, through September the index had averaged 53.9.
The figure includes industries that range from utilities and retail to health care, housing and finance and make up almost 90 percent of the economy.
Service industries in some parts of the world are on the mend. Services in the U.K. unexpectedly accelerated in October at the fastest pace in 16 years as the economy showed signs of pulling away from the rest of Europe. A gauge of activity rose to 62.5 from 60.3 in September, Markit Economics said today in London.
The report came as the European Commission forecast the U.K. economy will grow 2.2 percent next year, twice the pace of the euro area and more than Germany and France.
A report last month showed euro-area services and factory output unexpectedly slowed in October. A composite index based on a survey of purchasing managers in both industries declined to 51.5 this month from 52.2 in September, Markit Economics said Oct. 24.
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