Business News

Service industries grow for 25th month

Published: Jan. 5, 2012 at 12:43 PM

TEMPE, Ariz., Jan. 5 (UPI) -- Business activity in U.S. service industries grew in December for the 25th consecutive month, the Institute for Supply Management said Thursday.

The pace of growth picked up slightly with the headline Purchasing Managers Index was 52.6, up from 52 in November.

The index uses 50 as a break-even point. Above 50 indicates growth. Below 50 indicates a contraction.

The critical new-orders index for non-manufacturing businesses rose from 53 to 53.2. The employment index rose from 48.9 to 49.4, meaning the pace of job erosion slowed.

The prices index fell from 62.5 to 61.2.

In the month, 11 of 18 service industries tracked in the report showed growth, led by retail trade, professional, scientific and technical services, mining, and transportation and warehousing.

Most Popular Collections

'Star Trek Into Darkness' screening	NBC upfronts	Met Ball 2013
'Great Gatsby' premieres in New York	Spire raised on top of One WTC	2013: Celebrity break ups and divorces

Additional Business News Stories
Energy Resources Oil drilling under way in Iraqi Kurdistan LONDON, June 19 (UPI) -- An oil company working in northern Iraq said Wednesday it was looking to confirm the region may be one of the best in the world in terms of resource potential. Oil pipeline proposed for North Dakota China looks to Iceland for oil opportunity Gazprom reviews Barents Sea developments Midwest rains cause Gulf of Mexico problems	Security Industry Billions in contracts reported at air show PARIS, June 19 (UPI) -- Aerospace industry contracts for commercial aircraft, related systems and services worth billions of dollars are being reported from the Paris Air Show. Embraer secures more orders for executive jets Raytheon touts Sidewinder milestone Coast Guard contracts for new cutter's advance lead materials Companies call for European UAV development
Real Estate Foreclosure processing time at new high Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous... Altos: No sign of single family rental weakness -- yet CB Previews International draws the line on pocket listings Americans exit the housing crisis with new appreciation for renting Real Estate: Nothing to fear from zombie houses	Analysis: Economic Outlook This resembles austerity Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda. Fed shows it's human The name of the game The key to Keystone Mergers are us