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Enviado: 5/6/2007 14:09By Rex Nutting Last Update: 10:08 AM ET Jun 5, 2007
WASHINGTON (MarketWatch) -- The nonmanufacturing side of the U.S. economy grew at a robust pace in May, the Institute for Supply Management reported Tuesday.
The ISM nonmanufacturing index rose to 59.7% from 56% in April.
It's the highest since April 2006. Economists surveyed by MarketWatch were looking for a pullback to about 55%. Readings over 50% in the diffusion index indicate that more firms were growing than contracting.
The index has been above 50% for 50 consecutive months.
Twelve of 15 industries were expanding in May.
WASHINGTON (MarketWatch) -- The nonmanufacturing side of the U.S. economy grew at a robust pace in May, the Institute for Supply Management reported Tuesday.
The ISM nonmanufacturing index rose to 59.7% from 56% in April.
It's the highest since April 2006. Economists surveyed by MarketWatch were looking for a pullback to about 55%. Readings over 50% in the diffusion index indicate that more firms were growing than contracting.
The index has been above 50% for 50 consecutive months.
Twelve of 15 industries were expanding in May.