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Service sector activity improves in December
By EmploymentCrossing.com
http://www.EmploymentCrossing.com
Even amid the worsening recession, activity in the service sector activity improved in December, according to a purchasing managers' group.
The Institute for Supply Management's (ISM) non-manufacturing index rose to 40.6 from 37.3 in November. According to a Briefing.com consensus survey, economists had predicted a decline to 37.
The index is considered both an indicator of the sector's performance and a measure of the economy as a whole.
Index readings above 50 are considered to indicate growth, while levels below 50 signal contraction.
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