Services index moves back to growth territory

The service sectors of the U.S. economy rebounded in December, according to a survey of companies released Wednesday by the Institute for Supply Management.

The ISM non-manufacturing index rose to 50.1% from 48.7% in November.

Despite moving back into growth territory, the gain was not as robust as expected. Economists surveyed by MarketWatch forecast the ISM non-manufacturing index to rise to 51%.

Readings above 50% in the diffusion index indicate that activity at more firms is expanding rather than contracting. The index had been above 50% since August but then fell below the threshold in November.

Read Full Article from MarketWatch

- Posted: 2010-01-06 10:40:07

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