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.
Service providers from construction companies to retailers expanded in May at the fastest pace in nine months, signaling a broad-based rebound in the U.S. economy after a dismal first quarter.
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 picked up in March as the biggest part of the U.S. economy began to recover from the unusually harsh winter weather, showing growth will speed up in the second quarter.
Following is the text of U.S. non-manufacturing conditions from the Institute for Supply Management.
Following is the text of U.S. non- manufacturing conditions from the Institute for Supply Management.
"Conditions are definitely improving."
- Anthony Nieves on Aug 05, 2014
ISM's Nieves Says Services Index Shows Strength