The U.S. services sector expanded at a slower pace in October as the non-manufacturing business activity composite index was 52.9, compared to 53.0 in September, on a seasonally adjusted basis, the Institute for Supply Management reported Thursday.
Economists expected a 53.5 level.
The prices paid index, closely watched for signs of inflation, dipped to 57.1 from 61.9. The employment index increased to 53.3 from 48.7. The business activity/production index slid to 53.8 from 57.1.