WASHINGTON — U.S. service companies, which employ roughly 90 percent of the work force, grew at a slightly faster pace in May, the Institute for Supply Management said Tuesday. The monthly expansion was the 29th consecutively.

The institute said its index of nonmanufacturing activity edged up to 53.7 last month from 53.5 in April. A reading above 50 indicates expansion.

The new-orders component rose, suggesting solid demand in coming months. But there was concern that the employment component, although still signaling expansion, slipped to the lowest reading since November.

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    April 2012



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