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.
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%.