Thursday, February 3, 2011

U.S. Economy: Service Industries Expand by Most Since 2005 - Bloomberg


U.S. Economy: Service Industries Expand by Most Since 2005 - Bloomberg: "Service industries in the U.S. expanded in January at the fastest pace since August 2005, indicating the economic recovery is broadening.

The Institute for Supply Management’s index of non- manufacturing businesses rose to 59.4, exceeding the median forecast in a Bloomberg News survey, after December’s 57.1. Readings above 50 signal expansion in the gauge that covers about 90 percent of the economy. Orders were the highest in seven years, while companies showed more confidence to hire."

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