U.S. Services Expand at Fastest Pace Since 2006

[Harry Hope]

Source: Bloomberg


Jan 5, 2011

U.S. Services Expand at Fastest Pace Since 2006

By Bob Willis

Service industries expanded in December at the fastest pace since May 2006, showing the U.S. recovery is broadening.

The Institute for Supply Management’s non-manufacturing index, which covers about 90 percent of the economy, rose to 57.1 from 55 in November. A reading greater than 50 signals growth.

The median forecast of 67 economists surveyed by Bloomberg News projected the index would rise to 55.7. Estimates ranged from 54 to 58.5.

A report today from ADP Employer Services showed companies boosted payrolls in December by the most since records began in 2001. Employment increased by 297,000, almost three times the 100,000 median estimate of economists surveyed.



Read more: http://www.bloomberg.com/news/2011-01-05/service-industries-in-u-s-expand-at-fastest-pace-since-may-2006-ism-says.html

[nyy1998]

1. Another good economic indicator! Let's end the bloodly recession!

[PSPS]

2. WOW!!! More 'service sector' (very low wage) jobs!! WOW!!11!!1