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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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.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.
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