Economics
Growth in U.S. Services Industries Was Steady in January
- ISM non-manufacturing index was 56.5 last month; estimate 57
- Twelve of 18 non-manufacturing industries reported growth
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America’s service industries expanded in January at about the same pace as in the previous month, indicating resilience in the biggest part of the economy.
The Institute for Supply Management’s non-manufacturing index was 56.5 last month after December’s 56.6 that matched the highest level since October 2015, the Tempe, Arizona-based group’s data showed Friday. Readings above 50 signal expansion at service industries, which account for about 90 percent of the economy. The median forecast in a Bloomberg survey of economists called for 57.