The nation’s service economy expanded at a faster pace in February than in the previous month and more rapidly than analysts had expected, a private research group said Friday.
The Institute for Supply Management said its non-manufacturing index rose to 60.1 in February from January’s 56.8. Wall Street economists had forecast a reading of 59. The ISM index is based on a survey of business executives. A reading above 50 indicates the sector is expanding; below 50 indicates activity is contracting.
