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ISM nonmanufacturing index rises to 57.3, beating expectations


Wednesday, 4 March 2020 22:11 WIB

Ekonomi ASism non manufacturAS


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U.S. services sector activity accelerated to a one-year high in February, suggesting  underlying strength in the economy despite the coronavirus outbreak, which has triggered financial market fears of a recession and led to an emergency interest rate cut from the Federal Reserve.

The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing activity index increased to a reading of 57.3 last month, the highest level since February 2019, from 55.5 in January.

A reading above 50 indicates expansion in the services sector, which accounts for more than two-thirds of U.S. economic activity. Economists polled by Reuters had forecast the index falling to a reading of 54.9 in February.

Source: CNBC


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