US services firms grow faster in April
May 4, 2017
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.