Alva Review-Courier -

By Paul Wiseman
AP Economics Writer 

US services firms grow faster in April

 


WASHINGTON (AP) — U.S. services companies expanded at a faster pace in April, good news for the overall American economy.

The Institute for Supply Management, a trade group of purchasing managers, said Wednesday that its services index rose last month to 57.5 from 55.2 in March. Anything above 50 signals the services sector is growing — something it's done for 88 straight months.

Sixteen services industries reported growth last month, led by wholesalers and utilities. Only one industry grouping — covering agriculture, forestry, fishing and hunting — contracted in April.

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