The morning report: U.S. service companies grew at a slightly slower pace in October as compared to September because of a decline in new orders. But a measure of employment rose, indicating services firms hired more. The Institute for Supply Management reports this morning that its index of non-manufacturing activity fell to 54.2. That’s down from a six-month high of 55.1 in September. Any reading above 50 indicates expansion. October’s reading matches the 12-month average for the index. The industries reporting the fastest growth were agriculture, construction, management of companies, and finance and insurance.
Plenty fruitful: Samsung is reporting it has sold more than 30 million of its flagship Galaxy S III smartphone in the roughly five months since it was first released, making it one of the fastest-selling smartphones in the world. Samsung, the world’s biggest mobile phone maker, launched the Gallery S III at the end of May, months before competitors began shipping the latest versions of their top phones. When Apple unveiled the iPhone 5 in September, Samsung launched an advertising campaign poking fun at the new iPhone. Research firm IDC ranks the South Korean firm as the world’s top smartphone seller in the last three quarters. In the latest July-September period, Samsung sold 56.3 million smartphones versus Apple’s 26.9 million, IDC says.
Screen machine: Apple has issued its own strong sales report this morning. The company says it sold 3 million iPad mini and iPad models over the debut weekend of the mini model. However, as The Los Angeles Times notes, Apple did not break down those sales figures by model, so it’s hard to say how strong demand has been for either the iPad mini or the fourth-generation iPad. According to the company, sales were twice as strong as the Wi-Fi–only models of the third-generation iPad—the old new iPad, for those of you keeping track. More details are available in the full story here.
