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While a slight improvement from 48 in July, details of the ISM report were mixed and the gauge remained below the level of 50 that separates expansion and contraction.

U.S. factory activity contracted for a sixth-straight month in April, the longest such stretch since 2009 and a sign of lingering malaise in manufacturing.

U.S. manufacturers expect to reduce capital spending in 2020, a trend that could limit a rebound in the sector even as companies see profits improving.

WASHINGTON — U.S. services firms expanded at a slightly slower rate in October, after achieving a record pace in September in a sign of the economy’s strength and endurance.

A faster-than-forecast June pace of expansion at America’s service industries, which make up the bulk of the economy, signals solid second-quarter growth, a survey from the Institute for Supply Management showed July 6.