Service industries in the U.S. grew at a slower pace than forecast in February as employment slumped by the most in more than five years, showing frigid temperatures have caused the economy to struggle.
Services, the biggest chunk of the U.S. economy, picked up in April as gains in orders and sales signaled even faster growth ahead.
Fewer Americans applied for unemployment benefits over the past month than at any time in seven years, a sign of a healthier labor market that’s helping brighten consumer sentiment.
Service industries expanded in July at a faster pace than forecast, reflecting an increase in employment that eases the risk U.S. economic growth will slacken in the second half of the year.
Following is the text of U.S. non-manufacturing conditions from the Institute for Supply Management.
Manufacturers in the U.S. are more optimistic about demand and capital spending this year than at the end of 2013, according to a survey by the Institute for Supply Management.
U.S. service industries expanded in September at a slower pace than a month earlier, a sign the recovery is struggling to gain speed.
Service industries in the U.S. unexpectedly grew in February at the fastest pace in a year, showing further strength for the biggest part of economy.
Service industries in the U.S. expanded in September by the most in six months, underpinning an economy that lost momentum in the first half of the year.
"Conditions are definitely improving."
- Anthony Nieves on Aug 05, 2014
ISM's Nieves Says Services Index Shows Strength