Service sector gained in May

June 3, 2011 at 11:50 AM
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TEMPE, Ariz., June 3 (UPI) -- Business activity in U.S. service industries grew in May for the 18th consecutive month, the Institute for Supply Management said Friday.

The headline index for service businesses across the country rose from 52.8 to 54.6, meaning business activity grew in the month at a faster pace than in April. Numbers above 50 in the index indicates growth.

The new orders index for non-manufacturing businesses rose from 52.7 to 56.8. The productivity index, however, dropped slightly from 53.7 to 53.6.

The employment index gained 2.1 points to 54. The prices index dropped 0.5 points to 69.6.

In the month, 16 of 18 service industries tracked in the report showed growth in the month, led by mining, utilities, and arts and entertainment.

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