Democratic Underground - U.S. service growth climbs in February-survey

Reply #67: U.S. service growth climbs in February-survey [View All]

UpInArms

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Fri Mar-03-06 10:15 AM
Response to Reply #60

67. U.S. service growth climbs in February-survey

http://today.reuters.com/news/ArticleNews.aspx?type=bondsNews&storyid=URI:2006-03-03T150839Z_01_N03363340_RTRIDST_0_ECONOMY-SERVICES-URGENT.XML

NEW YORK, March 3 (Reuters) - The pace of growth in the U.S. service sector rose in February, bolstered by a rise in employment and new orders, according to a report on Friday.

The Institute for Supply Management's services index rose to 60.1 in February from 56.8 in January, well above Wall Street's median forecast for a rise to 58.0.

A number above 50 indicates growth in the sector.

The services sector makes up about 80 percent of U.S. economy activity, including businesses like restaurants, hotels, hair salons, banks and airlines.

The survey's prices-paid index fell to 64.8 from 67.2 in January, while the jobs component rose to 58.2 from 51.1, and new orders rose to 56.2 from 56.0.

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Reply #67: U.S. service growth climbs in February-survey [View All]