Survey of purchasing managers shows activity grew faster in January than expected.
February 4, 2004: 10:09 AM EST
NEW YORK (CNN/Money) - Growth in the U.S. service sector accelerated in January, the nation's purchasing managers said Wednesday, beating analysts' expectations.
The Institute for Supply Management's index of non-manufacturing activity came in at 65.7, compared with a revised 58 in December. Any reading above 50 indicates growth in the sector. Economists, on average, expected a reading of 60, according to Briefing.com.
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