facebook
twitter
search
search

U.S. service sector shows strength

March 5, 2012 at 1:02 PM

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.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Ford recalls 432,000 North American vehicles over software bug
Compact cannon for British armored vehicles
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue
U.S. proposes tighter pipeline spill rules