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ISM: Services activity increases in February

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ISM:  Services activity increases in February

NMI of 56.9% exceeds expectations.

Economic activity in the non-manufacturing sector expanded beyond expectations in February, according a report issued Wednesday by the Institute of Supply Change Management.

The February NMI registered 56.9%, an increase of 0.2 percentage points from October’s 56.7%, indicating an increased rate of expansion in the service sector.

"Analysts had expected a reading of 56.5%."

Analysts had expected a reading of 56.5%.

Business activity actually decreased during the month, falling from 61.5% in January to 59.4% in February.

The New Orders Index also fell, in at 56.7%, 2.8 percentage points lower than January’s reading. But the Employment Index gained ground, increasing 4.8 percentage points to 56.4% during the month.

Prices continued to contract, with the Prices Index increasing 4.2 percentage points to 49.7% during the month.

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