Service Sector Picks Up Modestly In May: ISM

[Purveyor]

Source: REUTERS

NEW YORK | Tue Jun 5, 2012 12:10pm EDT

(Reuters) - The pace of growth in the vast services sector edged up in May driven by gains in new orders, a welcome comfort after recent disappointing economic data.

The Institute for Supply Management (ISM) said on Tuesday its services index edged up to 53.7 from 53.5 in April; economists had expected the index to hold steady at April's level.

A reading above 50 indicates expansion in the sector, which accounts for about two-thirds of economic activity.

Although the data offered a positive note after other recent signs suggesting the recovery is losing traction, the index was still well off the level of 57.3 seen in February.



Read more: http://www.reuters.com/article/2012/06/05/us-usa-economy-services-idUSBRE8540QY20120605

[Dr Fate]

1. Would you like fries with that? nt

nt

[enki23]

2. Please, honorable sirs, how may we service you?

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