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Non-manufacturing activity gains momentum in May

June 04, 2014

Employment in the U.S. non-manufacturing sector grew in May at a faster rate than April, according to the Institute for Supply Management’s non-manufacturing index released today.

ISM’s non-manufacturing business activity index rose in May to a reading of 56.3, up from April’s reading of 55.2 and the highest reading for the index since August 2013, when the index registered 57.9 percent. Readings above 50 indicate growth.

The employment portion of the index rose to a reading of 52.4 in May, up 1.1 percentage points from April’s reading of 51.3 percent, indicating growth for the third consecutive month and at a faster rate.