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US service industry creeps toward growth as lockdowns ease, ISM report shows - Business Insider

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US service industry creeps toward growth as lockdowns ease, ISM report shows

The biggest part of the US economy is slowly inching its way back to growth after plummeting amid coronavirus lockdowns.Wednesday its non-manufacturing index climbed to 45.4 in May from 41.8. The organization's new orders index jumped 9 percentage points to 41.9, and its index for business activity gained 15 percentage points to 41.

Of the 28 services sectors tracked by ISM, 14 reported a decrease in May, including the educational services, wholesale trade, and utilities sectors. The four reporting growth through the month were agriculture and forestry, finance and insurance, public administration, and information.

 

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