By Greg Robb
WASHINGTON (MarketWatch) -- Activity in the service sectors of the U.S. economy grew at a faster pace in October, the Institute for Supply Management reported Wednesday. The ISM non-manufacturing index rose to 54.3% from 53.2% in September. The increase was larger than expected. Economists were looking the index to increase to 53.5%. The index had moderated a bit since hitting a high of 55.4 in April and May but the gain in October suggests growth at a slightly faster pace. The employment index rose to 50.9% in October from 50.2% in September. The employment index is closely watched for hints about to the likely strength of the key October nonfarm payroll report to be released on Friday.
