facebook
twitter
rss
account
search
search
 

U.S. service sector picks up the pace

Oct. 3, 2012 at 10:30 AM   |   Comments

TEMPE, Ariz., Oct. 3 (UPI) -- The pace of growth among U.S. service industries increased August to September, the Institute for Supply Management said Thursday.

The Purchasing Managers Index for non-manufacturing businesses has shown growth for 33 consecutive months with the PMI rising from 53.7 percent in August to 55.1 percent in September.

The index for new orders also showed growth for the 38th consecutive month and showed the pace of acceleration in September with the index at 57.7 percent, up from the August reading of 53.7 percent.

Numbers above 50 in the report indicate growth, while numbers below 50 indicate a contraction.

The Employment Index, which tracks the number of employees, fell, but remained positive, the index sliding from 53.8 percent to 51.1 percent in the month.

© 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.
Recommended UPI Stories
Most Popular
1
Rheinmetall, KBR in joint venture bid for British defense entity
2
Starbucks testing smaller Frappuccinos Starbucks testing smaller Frappuccinos
3
First MT30 engine for Korean Navy frigates passes acceptance tests First MT30 engine for Korean Navy frigates passes acceptance tests
4
New National Security Cutter delivered to Coast Guard New National Security Cutter delivered to Coast Guard
5
Anheuser-Busch not satisfied with the way NFL has handled recent incidents Anheuser-Busch not satisfied with the way NFL has handled recent incidents
Trending News
Video
x
Feedback