America’s service industries expanded more than projected in April as a measure of orders reached the highest level since 2005, a survey from the Institute for Supply Management showed May 3.
Key Points
- Non-manufacturing index rose to 57.5, the second-highest since October 2015 (forecast was 55.8) from 55.2 in March; readings above 50 indicate growth
- Gauge of orders climbed to 63.2, the highest since August 2005, from 58.9
- Measure of business activity increased to 62.4 from 58.9
- Index of services employment slid to 51.4, an eight-month low, from 51.6
Big Picture
The results are in sync with projections for a ...
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