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BUSINESS
December 4, 2010 | By Jeffry Bartash
The U.S. services sector continued to expand in November, marking an 11th straight month of growth, according to a closely watched survey. The Institute for Supply Management said Friday that its nonmanufacturing index increased to 55% from 54.3% in October, in line with predictions by economists surveyed by MarketWatch. Readings above 50% indicate that business at more firms is expanding rather than contracting. The index had been above 50% since December 2009. "Respondents' comments mostly reflect cautious optimism," said Anthony Nieves, chairman of the ISM nonmanufacturing index.
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BUSINESS
March 5, 2014 | By Jim Puzzanghera
Service sector growth unexpectedly tumbled last month to a four-year low, the Institute for Supply Management said Wednesday, in another sign that extreme weather has hurt the economic recovery this winter.  The firm's purchasing manager's index for non-manufacturing businesses fell to 51.6 in February from 54 the previous month. A figure above 50 indicates the sector is expanding. Analysts had expected a smaller drop to 53.5. PHOTOS: Federal Reserve chairs through the years In a more troubling sign, ISM's employment index for the sector plunged below 50 for the first time in more than two years, to 47.5 last month from 56.4 in January.
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BUSINESS
October 5, 2010 | By Steve Goldstein
WASHINGTON ? The nation's service sector expanded for a ninth straight month during September, a report showed Tuesday, with key employment numbers registering growth for the third time in the last five months. The Institute for Supply Management's nonmanufacturing index climbed to 53.2%, up from 51.5% in August and coming in stronger than the 52.3% expected in a survey of economists. Readings higher than 50% indicate expansion. Of the indexes that compose the ISM poll, the business activity index slowed 1.6 percentage points in September to 52.8%, the new orders index climbed 2.5 percentage points to 54.9% and the employment index added 2 percentage points to 50.2%.
BUSINESS
November 5, 2013 | By Jim Puzzanghera
WASHINGTON -- The service sector, a crucial driver of the U.S. economy, expanded more than forecast last month as business activity surged in a sign the partial government shutdown was not a drag on sales, a widely watched index indicates. The Institute of Supply Management said Tuesday that its purchasing managers' index for the service sector rose to 55.4 in October from 54.4 the previous month. Economists had projected just a slight increase to 54.5. Index readings above 50 indicate the sector is growing.
BUSINESS
December 5, 2012 | By Jim Puzzanghera
WASHINGTON -- The nation's service sector expanded last month at a slightly faster pace than in October as new orders offset a dip in hiring. The Institute for Supply Management's purchasing managers' index rose to 54.7 in November, up 0.5 from the previous month, the group said Wednesday. A reading above 50 indicates growth, and November marked the 35th straight month of expansion. Analysts had expected the pace of growth to slow last month to about 53.5. ISM reported Tuesday that the manufacturing sector contracted in November for the first time in three months, though Hurricane Sandy might have caused the reading to fall to its lowest level since 2009.
BUSINESS
March 4, 2010 | By Tiffany Hsu
The U.S. service sector last month marked its fastest expansion in more than two years while two employment reports Wednesday showed promise ahead of Friday's government jobs data. The service sector index calculated by the Institute for Supply Management jumped to 53 in February from 50.5 in January, the highest level since December 2007. Any level above 50 represents growth, according to the Tempe, Ariz.-based nonprofit. Employment in the service sector has declined for the last 26 months, but the institute's employment index for the sector jumped in February to 48.6 from 44.6, suggesting that more jobs could be on the horizon.
BUSINESS
April 3, 2013 | By Jim Puzzanghera
WASHINGTON -- The service sector's expansion slowed last month from its fastest pace in a year in February, the Institute for Supply Management said Wednesday. The firm's widely watched purchasing managers index was at 54.4 in March, suggesting a 39th straight month of growth in the service sector. But the figure was down from a 56 reading the previous month. Analysts had expected the index to drop to about 55.5. A figure above 50 indicates the sector is growing. Quiz: How much do you know about California's economy?
BUSINESS
August 3, 2012 | By Jim Puzzanghera
WASHINGTON  -- The growth of the U.S. service sector picked up in July, beating analyst expectations and providing another good - though not great - economic sign Friday. The Institute for Supply Management's non-manufacturing index increased to 52.6% from 52.1% in June. Analysts had expected it to stay flat. The improved reading came as the government reported the U.S. economy created 163,000 net new jobs in July, also beating expectations. The unemployment rate increased to 8.3% from 8.2%.
BUSINESS
September 5, 2013 | By Jim Puzzanghera
WASHINGTON -- The service sector, a backbone of the U.S. economy, unexpectedly expanded last month at its fastest pace in more than five years, the Institute for Supply Management said Thursday. The group's purchasing manager's index jumped to 58.6 in August, up from 56 the previous month. It was the highest reading since ISM began tracking growth in nonmanufacturing industries in January 2008. Economists had projected the index would drop to 55 last month. A reading above 50 indicates the sector is growing.
BUSINESS
September 6, 2011 | By Jeffry Bartash
The U.S. service sector expanded at a slightly faster pace in August, but growth was spotty and prices paid for raw materials shot up, according to a survey of senior executives. The Institute for Supply Management said Tuesday that its service index rose to 53.3% in August from 52.7% in July. Economists surveyed by MarketWatch expected the index to fall to 51.0%. Although readings over 50% indicate that more firms are expanding than contracting, the index is still well below its recent peak of 59.7% in February.
BUSINESS
October 30, 2013 | By Jim Puzzanghera
WASHINGTON -- Business hiring slowed this month with the private sector adding just 130,000 net new jobs as the partial government shutdown hit an already weakening labor market, payroll processor ADP said Wednesday. The figure was below the 150,000 average monthly job growth in the sector over the previous year as the hiring in the service sector fell off in October, said Mark Zandi, chief economist at Moody's Analytics, which assists ADP in the monthly report. "The government shutdown and debt limit brinkmanship hurt the already softening job market in October," Zandi said.
BUSINESS
September 5, 2013 | By Jim Puzzanghera
WASHINGTON -- The service sector, a backbone of the U.S. economy, unexpectedly expanded last month at its fastest pace in more than five years, the Institute for Supply Management said Thursday. The group's purchasing manager's index jumped to 58.6 in August, up from 56 the previous month. It was the highest reading since ISM began tracking growth in nonmanufacturing industries in January 2008. Economists had projected the index would drop to 55 last month. A reading above 50 indicates the sector is growing.
BUSINESS
August 5, 2013 | By Jim Puzzanghera
WASHINGTON -- The nation's service sector, a crucial economic component, expanded in July at its fastest pace in five months, the Institute for Supply Management said Monday. The group's purchasing managers' index for non-manufacturing businesses rose to 56 last month, from June's 52.2. A reading above 50 indicates the sector is expanding. The June reading was the lowest since early 2010, raising concerns about a summer slowdown. But service-sector growth rebounded sharply last month.
BUSINESS
June 21, 2013 | By Hugo Martin
With summer in California officially under way Thursday, employers in the state's leisure and hospitality industry have beefed up their payrolls ahead of the busy tourism season.  That was evidenced Friday, when U.S. Bureau of Labor Statistics figures showed that the leisure and hospitality sector led hiring in California for the month of May. The industry's payrolls in the state grew by 9,000 jobs last month. A boost in hiring by hospitality and travel businesses is a sign that the economy continues to improve, said Ernest Wooden, chief executive of the Los Angeles Tourism & Convention Board.
BUSINESS
June 6, 2013 | By Adolfo Flores
Small businesses added 58,000 employees in May with overall private-sector employment increasing by 135,000, according to the ADP National Employment Report. The number of jobs added is up from 49,000 in April, but down from 72,000 in March. Last May the number of jobs added was about 50,000, ADP said. Establishments with one to 19 employees grew by 37,000 and those with 20 to 49 employees grew by 21,000. Most were in the service sector, according to the report. In Los Angeles, small-business owners were optimistic about the future, according to a report from Bank of America released last week.
BUSINESS
April 3, 2013 | By Jim Puzzanghera, Los Angeles Times
WASHINGTON - Private-sector employment growth and expansion in the vital service sector slowed last month, raising concerns about the strength of the recovery ahead of Friday's government jobs report. Payroll firm Automatic Data Processing Inc. said Wednesday that the private sector added 158,000 jobs in March. The figure was well below the 237,000 private-sector jobs added in February, a number that was revised up from the initial report of 198,000. Economists had expected that ADP would show about 200,000 private-sector jobs were added last month.
BUSINESS
March 8, 2013 | By Alana Semuels
This post has been corrected. See the note at the bottom for details. NEW YORK -- The nation's job numbers for February were encouraging, with employers adding 236,000 positions over the month, far exceeding analysts' expectations. But break down the job numbers by sector, and a trend emerges - it's the service sector that is leading the recovery. Employers in the service sector have added 179,000 jobs over the last month, while manufacturing added just 14,000 and construction just 48,000.
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