A sign that the economic recovery is expanding from the goods-based sectors to the service industries, the ISM non-manufacturing index reported its fourth consecutive increase, rising 2.4 points to 55.4 from February to March. The service sector, which has lagged the recovery reported in the manufacturing sectors, is now improving as the index has been above the expansionary threshold of 50.0 for the first three months of the year.
The employment index continued rising to 49.8, just shy of growth, while new orders and business output continued expanding above the growth threshold. The export index resumed growth after three months of contraction, reaching its highest level since June 2007.
10.04.05 (Source:
Institute for Supply Management)
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