The US service sector expanded in October at the fastest pace in over two years, fueled by a pickup in hiring.The Institute for Supply Management’s non-manufacturing index increased to 56 in October,

U.S. services sector activity unexpectedly accelerated in October to a more-than two-year high, and employment strengthened, more evidence that the economy is in solid shape as the nation heads to the polls to pick the next president.

US service sector activity grew in October at the fastest pace in over two years as the Institute for Supply Management’s non-manufacturing index increased to 56, the highest since July 2022, data showed Tuesday.

In a surprising turn, the U.S. service sector reached its highest growth level since July 2022, defying expectations despite facing hurricanes, port strikes, and political uncertainties linked to the presidential elections.