Tempe, AZ, March 3, 2006 --The nonmanufacturing sectors of the economy expanded at a faster pace during February, according to the Institute for Supply Management’s non-manufacturing index.
The index rose to 60.1% from 56.8% in January. The increase was above expectations. Economists were looking the index to rise to 58.2%.
New orders rose slightly to 56.2% from 56.0%.
The employment index rose to 58.2% from 51.1%. Inflation pressures eased. The price index slipped to 64.8% from 67.2% in the previous month.
The 10 industries reporting growth in February--listed in order-- are: mining, insurance, communication, business, services, health services, public administration, utilities, construction, other services, and retail trade.
The four industries reporting activity the same as last month are transportation, finance & banking, real estate, and legal services.
The three industries reporting decreased activity from January to February are agriculture, wholesale trade and entertainment.
