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twitterSurvey shows expansion, although at a lower rate
Wednesday, May 4, 2005 | 9:14 a.m.
NEW YORK -- Business activity in the nonmanufacturing sector increased in April, although at a lower rate than in March, a private research organization said today.
The Institute for Supply Management said its index of activity among service companies for April fell to 61.7 from 63.1 a month earlier. Analysts had been estimating the index would ease to 61 in April.
Although the index was down, it remained above 50, signaling that the service sector continued to grow last month.
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