U.S. Service-Sector Activity Picked Up in January
By Sarah Chaney
Service sector activity across the U.S. accelerated in January.
The Institute for Supply Management Monday said its index of nonmanufacturing activity -- tracking industries including health care, finance, agriculture and construction -- rose to 59.9 in January from 56 in December.
Economists surveyed by The Wall Street Journal had expected a January reading of 56.5. A number above 50 indicates expansion.
The overall U.S. economy has expanded at a healthy pace in recent months, bolstered by consumer and business spending. Gross domestic product, a broad measure of goods and services produced across the U.S., rose at an annual rate of 2.6% from October through December, the Commerce Department said.
A separate ISM gauge that tracks activity in the much-smaller manufacturing sector maintained momentum in January.
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(END) Dow Jones Newswires
February 05, 2018 10:25 ET (15:25 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.