Print Edition - 2017-03-05  |  Money Digest

US services sector speeds up

- AFP, WASHINGTON

Mar 5, 2017-

The US services sector, the main driver of the economy, saw growth hit its fastest pace 15 months in February, according to industry data released Friday. The Institute for Supply Management’s Non-Manufacturing Index rose a full point from January to 57.6 percent, seasonally adjusted, the highest reading since October of 2015. The index, which surveys activity among all segments of the services industry, has recorded continuous growth for more than seven years. A reading above 50 percent indicates expansion. Companies in 16 of the 18 sectors surveyed reported growth, with only the real estate and information industries reporting contraction, ISM said. 

Published: 05-03-2017 09:23

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