NEW YORK, Oct 3 (Reuters) - The pace of growth in the vast U.S. services sector picked up in September as new orders accelerated, though employment cooled, an industry report showed on Wednesday.
STEPHEN STANLEY, CHIEF ECONOMIST, PIERPONT SECURITIES, STAMFORD, CONNECTICUT
"It's in line with the factory report on Monday. We have seen a few reports now that seem to show things might have picked up in September, although it's not a strong improvement. Perhaps people are feeling better even though businesses are not. We have not broken out of the 1 to 2 percent growth range for this year."
MARKET REACTION: STOCKS: U.S. stocks slipped .
(Americas Economics and Markets Desk; +1-646 223-6300)
Keywords: USA ECONOMY/ISM