After reporting a slowdown in the rate of growth in U.S. service sector activity in the previous month, the Institute for Supply Management released a report on Tuesday showing growth rebounded by much more than expected in the month of February.
The ISM said its non-manufacturing index climbed to 59.7 in February after falling to 56.7 in January, with a reading above 50 indicating growth in the service sector. Economists had expected the index to inch up to 57.3.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.