Service Sector Continues Expansion in December

Washington, DC, Jan. 6, 2011 -- The service sector hit its highest level in more than four years in December, according to the Institute for Supply Management.

ISM said that its index of service sector activity rose to 57.1 in December. Any reading above 50 indicates growth.

December's reading was the highest since May 2006 and was the 12th straight month of expansion for the sector, which employs 80% of the work force.

The gains are being pushed by consumer and business spending. Companies received the highest number of orders for business in five years.