By Scott Kanowsky
Investing.com -- U.S. services activity slid to its slowest growth rate in more than two years in October, according to a survey from the Institute for Supply Management on Thursday, as businesses faced increasing headwinds from soaring inflation.
ISM's monthly non-manufacturing PMI for the month dropped to a reading of 54.4, down from 56.7 in September and below economists' forecasts of 55.5. It is the lowest mark since May 2020.