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US Service Sector Expands More Than Forecast Suggesting Hiring Success

  • ISM services index was little changed at 55.1 in February
  • Measure of new orders rises to highest since November 2021
Bloomberg business news
Services in US Expanded More Than Forecast in February
Updated on

The US service sector expanded in February by more than forecast as a measure of orders climbed to a more than one-year high and hiring increased.

The Institute for Supply Management’s gauge of services was little changed at 55.1, according to data out Friday. Readings above 50 signal growth and the February index exceeded the median forecast of 54.5 in a Bloomberg survey of economists.