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[Info.]

U.S. April services index sets record high

WASHINGTON (CBS.MW) -- Activity in the nonmanufacturing sectors of the U.S. economy expanded to a new record high in April, the Institute for Supply Management reported Wednesday.
The ISM's nonmanufacturing index rose to 68.4 percent from the previous record of 65.8 set last month, indicating more strength in the services sector.
The increase was larger than expected. Economists expected the index to slip to 64.5 percent.
Sixteen of 17 industries grew in April.
New orders rose to 65.6 percent from 62.8 percent.
The employment index rose to 54.5 percent from 53.9 percent.
The prices paid index rose to 68.6 percent from 65.7 percent. Readings over 50 percent in the diffusion index indicate expansion in those sectors.

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10:00am 05/05/04 U.S. APRIL ISM SERVICES INDEX ABOVE CONSENSUS 64.5

10:01am 05/05/04 U.S. APRIL ISM SERVICES JOBS INDEX 54.5% VS 53.9% MARCH

10:00am 05/05/04 U.S. APRIL ISM NONMANUFACTURING INDEX 68.4 % VS. 65.8%