facebook
twitter
rss
account
search
search
 

Service sector gains accelerate

Feb. 3, 2012 at 12:54 PM   |   Comments

TEMPE, Ariz., Feb. 3 (UPI) -- Business activity in U.S. service industries grew in January for the 26th consecutive month, the Institute for Supply Management said Friday.

The pace of growth picked up with the headline Purchasing Managers Index climbing from 53 to 56.8.

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 jumped from 54.6 to 59.4. The employment index rose from 49.8 to 57.4, meaning December's shrinking job pool has turned to expansion.

The prices index also rose from 62 to 63.5.

In the month, 12 of 18 service industries tracked in the report showed growth, led by real estate, rental and leasing, information services, education, and transportation and warehousing.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Scotland was tricked, 'yes' backers say Scotland was tricked, 'yes' backers say
2
Greenpeace puts more pressure on LEGO Greenpeace puts more pressure on LEGO
3
Slovakia sees Russian gas volumes drop Slovakia sees Russian gas volumes drop
4
Ground broken on Azeri gas pipeline for Europe Ground broken on Azeri gas pipeline for Europe
5
Report: MENA unprepared for climate change Report: MENA unprepared for climate change
Trending News
Video
x
Feedback