Service firms show gains

Feb. 3, 2011 at 12:43 PM
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TEMPE, Ariz., Feb. 3 (UPI) -- Growth in U.S. service industries accelerated in January, the Institute for Supply Management said Thursday.

With numbers above 50 indicating growth, the new orders index for non-manufacturing businesses jumped from 61.4 to 64.9 in the month. The employment index rose from 52.6 to 54.4. The headline Purchasing Managers Index, meanwhile, climbed from 57.1 to 59.4, indicating faster growth.

Imports rose from 51 to 53.5, while new export orders dropped from 56 to 53.5. Prices paid by non-manufacturing firms continued to grow with price index climbing from 69.5 to 72.1.

Thirteen of 18 service industries tracked in the report showed growth, led by mining, real estate and transportation and warehousing, the report said.

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