facebook
twitter
rss
account
search
search
 

U.S. service sector shows strength

March 5, 2012 at 1:02 PM   |   Comments

TEMPE, Ariz., March 5 (UPI) -- Business activity in U.S. service industries grew in January for the 26th consecutive month, the Institute for Supply Management said Monday.

The pace of growth picked up with the headline Purchasing Managers Index climbing from 56.8 to 57.3.

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 59.4 to 62.6. The employment index, however, dropped from 57.4 to 55.7.

The prices index also rose from 63.5 to 68.5.

In the month, 14 of 18 service industries tracked in the report showed growth, led by real estate, rental and leasing, information services, education, and wholesale trade.

© 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
Russian bank boss feeling sanctions pain Russian bank boss feeling sanctions pain
2
Navy's Triton surveillance drone flies cross-country Navy's Triton surveillance drone flies cross-country
3
Ukraine's State Guard Service receives armored personnel carriers Ukraine's State Guard Service receives armored personnel carriers
4
New GenDyn mission computers for Navy F/A-18s New GenDyn mission computers for Navy F/A-18s
5
Army deploying JLENS radar system to help protect Washington, D.C. Army deploying JLENS radar system to help protect Washington, D.C.
Trending News
Video
x
Feedback