KKTV - Economy - Headlines

US Service Firms Grow At Fastest Pace In A Year

By: AP
By: AP

WASHINGTON (AP) -- U.S. service companies expanded in February at the fastest pace in a year, helped by increased demand for new orders and growth in hiring.

The Institute for Supply Management says its index of non-manufacturing activity rose to 57.3, up from January's 56.8. Any reading above 50 indicates expansion.

The trade group of purchasing managers surveys roughly 90 percent of U.S. companies in all sectors outside of manufacturing. That includes retail, construction, financial services, health care, and hotels.

A measure of new orders reached its highest point in a year. While the group's employment index declined, it stayed at a level that suggests many service companies are adding workers.


KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.

If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.

powered by Disqus
KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 141443893