Post by bot on Feb 10, 2014 0:37:32 GMT -5
WASHINGTON (MarketWatch) -- U.S. service-sector companies expanded in January at slightly faster pace, a survey of executives found. The Institute for Supply Management said its nonmanufacturing index climbed to 54% last month from 53% in December. That matched the forecast of economists surveyed by MarketWatch. Readings over 50% indicate more companies are expanding instead of shrinking. The employment gauge rose 0.8 points to 56.4%, marking the highest level in more than three years. The ISM's new-orders index rose to 50.9% from 50.4%, and production climbed to 56.3% from 54.3%. Eleven of the industries tracked by ISM reported growth last month while seven recorded a decline.
