ISM non-manufacturing purchasing managers’ index rises to 55.7 in April
The Institute for Supply Management released its non-manufacturing purchasing managers' index for the U.S. on Wednesday. The index rose to 55.7 in April from 54.5 in March, beating expectations for an increase to 54.7.
A reading above 50 indicates a growth in the service sector.
The ISM's new orders index increased to 59.9 in April from 56.7 in March.
The business activity/production index decreased to 58.8 in April from 59.8 in March.
The ISM's employment index was up to 53.0 in April from 50.3 in March.
The prices index jumped to 53.4 in April from 49.1 in March.
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