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US services sector activity saw a rise in October with strong new orders. However, employment remained weak, indicating a sluggish job market. This comes amid economic uncertainty driven by import tariffs. The services sector, crucial to the US economy, showed mixed signals. The government shutdown also impacted economic data visibility.
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News and Media
The services sector accounts for more than two-thirds of US economic activity. At face value, the PMI would suggest solid economic activity at the start of the fourth quarter. But the longest government shutdown in history has caused an official economic data blackout, obscuring the economic view.
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News and Media
Republicans faced losses in recent elections. Former President Donald Trump attributed these defeats to his own absence from the ballot and a government shutdown. Democrats secured victories in significant races, including the New York City mayoral election and governorships in New Jersey and Virginia. Trump also called for electoral reforms, advocating for voter ID and an end to mail-in ballots.
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News and Media
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