By Josh Boak
AP Economics Writer 

US services firms grew at faster pace in May

 


WASHINGTON (AP) — U.S. services firms expanded at a stronger pace in May compared to the prior month, as companies saw gains in business activity, new orders and employment.

The Institute for Supply Management said Tuesday that its services index rose to 58.6, from 56.8 in April. Any reading above 50 signals growth. The services sector has expanded for 100 consecutive months, or more than eight years.

The gains are consistent with an economy that has steadily been expanding for nine years without many of the excesses that could risk a downturn. The index dovetails with the May jobs report rele...



For access to this article please sign in or subscribe.

 

Reader Comments(0)

 
 

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2024