Indicating an unexpected acceleration in the pace of U.S. service sector growth in the month of May, the Institute for Supply Management released a report on Wednesday showing an increase by its non-manufacturing index.The ISM said its non-manufacturing index climbed to 56.9 in May after falling to 55.5 in April, with a reading above 50 indicating growth in service sector activity.The increase by ...
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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.