U.S. Services-Sector Activity Grew Slower in February

03/05/18 10:36 AM EST
By Sharon Nunn 

WASHINGTON -- Growth across U.S. service industries continued at a solid pace in February, a sign of health in the broader economy.

The Institute for Supply Management on Monday said its nonmanufacturing index fell to 59.5 in February. A reading above 50 indicates activity is expanding across service and other industries, while a number below 50 signals contraction.

Economists surveyed by The Wall Street Journal had expected a February reading of 59.0.

The overall U.S. economy is experiencing one of its most robust bouts of economic growth in recent years, with output in 2017 growing at its strongest annual pace in three years, buoyed by consumer and business spending.

Another ISM index that tracks the manufacturing sector surged in February to the highest level since 2004 as raw-materials prices rose quickly, the group said last Thursday.

Write to Sharon Nunn at sharon.nunn@wsj.com


(END) Dow Jones Newswires

March 05, 2018 10:36 ET (15:36 GMT)

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