Service sector activity "grew modestly in October," according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Overall, the service sector revenues index slipped to 9 in October, from 15 in September, while the number of employees index increased to 9 from 7, the average wage index dropped to 12 from 19, and the expected product demand during the next six months index slumped to 4 from 16.

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