ISM Services Index Expands at Faster Pace



Click Here!


 Updated:
10/5/2010 10:15:00 AM

The U.S. economy’s service sector expanded at a faster pace in September, the Institute for Supply Management said Tuesday.

ISM’s monthly services index rose to a reading of 53.2, from 51.5 in August, ISM said in its monthly report. Figures greater than 50 indicate expansion.

Economists had forecast a reading of 52, Bloomberg reported. The index averaged 53.3 during the six-year expansion that ended in December 2007.
 
ISM’s services index measures non-manufacturing components of the economy, and the services sector, which includes transportation, retail sales and financial services, accounts for nearly two-thirds of the U.S. gross domestic product.

Click Here!




© 2010, Transport Topics Publishing Group. All rights reserved.

RELATED ARTICLES

OTHER NEWS BRIEFS

Click Here!

JOIN OUR NEWSLETTER
We'll deliver tax strategies to your inbox from our CPA firm.
We hate spam. Your email address will not be sold or shared with anyone else.