Off the wire
• China to better integrate development strategies with PNG  • Commentary: British inquiry reveals Western hegemonism, interventionism  • Russia urges Kiev not to have military operation against rebels  • Chinese political advisors discuss supply-side structural reform  • Xinhua world news summary at 1600 GMT, July 6  • China to share experiences in special economic zones with Republic of Congo  • Singapore says hairline cracks on China-made MRT trains due to localized impurity in material  • Xinhua Insight: The young Chinese admiring China's ruling party  • U.S. stocks trade mixed ahead of Fed minutes  • 2nd LD Writethru: Obama to maintain 8,400 U.S. troops in Afghanistan into 2017  
You are here: 　 Home

U.S. service sector expands at fastest pace since November

Xinhua, July 7, 2016 Adjust font size:

U.S. service sector in June grew at the fastest pace since November 2015, suggesting a steady growth of the U.S. economy, an industry survey showed on Wednesday.

The Non-Manufacturing Index (NMI), which measures activity in the U.S. service sector, registered 56.5 in June, 3.6 points higher than May's reading, the Institute for Supply Management (ISM) said in its monthly survey.

The NMI survey covers all sectors outside of manufacturing. A reading above 50 percent indicates expansion of the service sector.

The new orders component of the index, a signal of future business, went up 5.7 points to 59.9. The component of employment increased 3 points from May to 52.7, and the business activity index grew 4.4 points to 59.5 in June.

Fifteen industries tracked by the ISM reported growth, while only three industries reported contraction in the month.

The survey showed that respondents are mostly positive about business conditions and the economy. The report reflects a strong rebound from the cooling-off of the previous month for the non-manufacturing sector, said the ISM. Endit