Services Sector Expansion Picks Up in January

Washington, DC, Feb. 5, 2014 — Expansion in the services sector of the economy picked up in January, according to the Institute for Supply Management.

ISM said its nonmanufacturing index rose to 54% last month from 53% in December.

Readings over 50% indicate more companies are expanding instead of contracting.
The employment index rose 0.8 points to 56.4%, marking the highest level in more than three years.