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U.S. Service Index Shows Unexpected Increase In February


Activity in the U.S. service sector unexpectedly expanded at a faster pace in the month of February, the Institute for Supply Management revealed in a report on Monday, with the index of activity in the sector rising to its highest level in a year.

The ISM said its non-manufacturing index rose to 57.3 in February from 56.8 in January, with a reading above 50 indicating growth in the service sector. The increase surprised economists, who had expected the index to edge down to a reading of 56.0.

With the unexpected increase, the index rose to its highest level since coming in at a reading of 59.0 in February of 2011.

Published: 2012-03-05 15:15:00 UTC+00


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May 20 at 0:33 UTC