Services Sector Improves More Than Expected
Tempe, AZ, June 5, 2013 -- The ISM Services Index rose more than expected to 53.7 in May from 53.1 in April.
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Economists were expecting an increase to 53.5.
Any number above 50 indicates expansion, whereas numbers below 50 indicate contraction.
Of the key subindexes, the business activity index was at 56.5%, the new orders index was at 56%, and employment stayed positive at 50.1%.