US services firms grow at faster pace in February
WASHINGTON (AP) — U.S. services firms' activity rose at a slightly faster rate in February, powered by hotels, restaurants and wholesalers.
The Institute for Supply Management says that its services index rose to 56.9 in February, up from January's reading of 56.7. Any reading over 50 indicates expansion.
The survey suggests further growth in employment and imports, as a strong hiring streak over the past year has bolstered consumer spending.