Services Sector Expansion Picks Up in January
Washington, DC, Feb. 5, 2014 -- Expansion in the services sector of the economy picked up in January, according to the Institute for Supply Management.
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ISM said its nonmanufacturing index rose to 54% last month from 53% in December.
Readings over 50% indicate more companies are expanding instead of contracting.
The employment index rose 0.8 points to 56.4%, marking the highest level in more than three years.