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U.S. Service Index Jumps To Eleven-Month High In January


Activity in the U.S. service sector expanded at a faster than expected rate in the month of January, according to a report released by the Institute for Supply Management on Friday, with the index of activity in the sector rising to an eleven-month high. The ISM said its non-manufacturing index rose to 56.8 in January from a revised 53.0 in December, with a reading above 50 indicating growth in the service sector. Economists had expected the index to edge up to 53.3.

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