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<p>The ISM Services Index exceeded economists’ expectations by ticking higher to a reading of 61.9 in September.&nbsp; This reading is higher than any of the pre-pandemic readings, as demand remains robust despite headwinds from the COVID-19 Delta variant.&nbsp; However, persistent supply/demand imbalances caused inventories to shrink for the fourth straight month.&nbsp; One respondent concisely sums up the situation by stating: “<em>Burning through inventories and unable to replace</em>.”</p>
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