Just one bit of meaningful economic data so far this week: The American service sector grew in September for the first time in a year. The Institute for Supply Management’s nonmanufacturing index scored 50.9 last month, just 9/10ths of a point above the growth/contraction tipping point. That certainly isn’t a booming service sector, but having contracted for the last 11 months… we’ll take it.
“The Chicago Fed’s national activity index,” notes our macro adviser and fellow data dork Rob Parenteau....
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