U.S. Services Sector Soars Amid Economic Momentum

October saw the U.S. services sector reach a two-year high, indicating potential for strong economic growth. This spike coincides with a close presidential race between Donald Trump and Kamala Harris. The services PMI rose unexpectedly, signaling robust economic health heading into the end of 2024.

The United States' services sector surged to its highest level in over two years in October, primarily driven by a strong rebound in employment.

This unexpected boost suggests that last month's near-stagnation in job growth was an anomaly. According to the Institute for Supply Management, this strength reflects stable economic momentum going into the year's final quarter.

This comes as the presidential race heats up between Republican Donald Trump and Democrat Kamala Harris. Meanwhile, inflation concerns show signs of easing as commodity prices stabilize.

(With inputs from agencies.)