Services sector gauge at lowest level since January: Markit

WASHINGTON (MarketWatch) -- Service sector output growth fell to a nine-month low in October, according to the Markit Flash U.S. services purchasing managers index released Tuesday. The index fell to 54.4 in October from 55.1 in September, which means it's still above the 50 mark indicating growth. Markit attributed the slowdown to slowing new business growth and more cautious spending patterns.