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Service sector growth in April at 8-month high
ISM index surges more than expected to 55.2 from 53.1
Add BT as a preferred sourcePublished Mon, May 5, 2014 · 10:00 PM
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[WASHINGTON] Service industries expanded in April at the fastest pace in eight months, a sign the biggest part of the US economy will bolster growth this quarter.
The Institute for Supply Management's (ISM) non-manufacturing index rose to 55.2, higher than projected, from the prior month's 53.1, the Tempe, Arizona-based group's report showed yesterday. Readings above 50 indicate expansion.
Services account for almost 90 per cent of the economy.
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