ISM Non-Manufacturing PMI figures in October at 54.2 against expectations between 53 to 57 and a previous reading of 55.1 in September. The employment index in October picked up to 54.9 from 51.1.
As for the prices index, it fell to 65.6 in October from 68.1 in September.
The economists say the decrease shows the declines in business activity and new orders, although 'employment' accelerated and 'supplier deliveries' held steady. Such data aer considered to be a disappointment after the unexpected increase in the complementary manufacturing last week. The analytics suppose the largest sector of the economy, covering over 90% of the economy, might be losing the momentum since the end of the summer.
JP Morgan chief economist expects further growth in the US economy as it will strengthen modestly in 4Q 2012.