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Expand chart
Data: Institute for Supply Management; Chart: Andrew Witherspoon/Axios

The U.S. services sector roared back in October, with the ISM's non-manufacturing report jumping to 54.7, up from 52.6 the month before, and beating expectations.

Why it matters: The services sector makes up almost 70% of the U.S. economy and has been consistently trending lower, following the manufacturing sector for most of this year.

  • October's pickup, combined with an improvement in ISM's manufacturing reading, suggests the data may have hit a floor.

The report's details also were strong:

  • Business Activity rose 1.8 points on the month to 57.0
  • Prices Paid fell 3.4 points to 56.6
  • New Orders was two higher at 55.6
  • Employment added 3.4 points, up to 53.7

Go deeper: How the China trade war threatens U.S. manufacturing jobs

Go deeper

Updated 6 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: The good and bad news about antibody therapies — Fauci: Hotspots have materialized across "the entire country."
  2. World: Belgium imposes lockdown, citing "health emergency" due to influx of cases.
  3. Economy: Conference Board predicts economy won’t fully recover until late 2021.
  4. Education: Surge threatens to shut classrooms down again.
  5. Technology: The pandemic isn't slowing tech.
  6. Travel: CDC replaces COVID-19 cruise ban with less restrictive "conditional sailing order."
  7. Sports: High school football's pandemic struggles.
  8. 🎧Podcast: The vaccine race turns toward nationalism.
Dan Primack, author of Pro Rata
Updated 7 hours ago - Economy & Business

Dunkin' Brands agrees to $11B Inspire Brands sale

Photo: Alexi Rosenfeld/Getty Images

Dunkin' Brands, operator of both Dunkin' Donuts and Baskin-Robbins, agreed on Friday to be taken private for nearly $11.3 billion, including debt, by Inspire Brands, a restaurant platform sponsored by private equity firm Roark Capital.

Why it matters: Buying Dunkin’ will more than double Inspire’s footprint, making it one of the biggest restaurant deals in the past 10 years. This could ultimately set up an IPO for Inspire, which already owns Arby's, Jimmy John's and Buffalo Wild Wings.

Ina Fried, author of Login
9 hours ago - Technology

Federal judge halts Trump administration limit on TikTok

Illustration: Aïda Amer/Axios

A federal judge on Friday issued an injunction preventing the Trump administration from imposing limits on the distribution of TikTok, Bloomberg reports. The injunction request came as part of a suit brought by creators who make a living on the video service.

Why it matters: The administration has been seeking to force a sale of, or block, the Chinese-owned service. It also moved to ban the service from operating in the U.S. as of Nov. 12, a move which was put on hold by Friday's injunction.

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