US Services Activity Expands Most Since 2022 on Demand
Shoppers in the SoHo neighborhood of New York.
Photographer: Michael Nagle/BloombergThe US service economy expanded in February at the fastest pace since mid-2022, powered by robust orders growth and business activity.
The Institute for Supply Management’s services index rose 2.3 points to 56.1, the group said Wednesday. Readings above 50 indicate expansion, and the figure exceeded all projections in a Bloomberg survey of economists.