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US non-manufacturing economic index accelerates in April

May 05, 2015

Economic activity in the US non-manufacturing sector expanded at a faster pace in April, according to the Institute for Supply Management’s non-manufacturing index released today.

ISM’s non-manufacturing index rose in April to a reading of 57.8 from March’s reading of 56.5. Readings above 50 indicate growth.

The reading surpassed all estimates of 78 economists surveyed by Bloomberg. The median forecast of the economists surveyed called for a reading of 56.2.

The employment portion of the index edged up to a reading of 56.7 in April from March’s reading of 56.6 and indicates growth for the 14th consecutive month.