The Institute for Supply Management’s services sector index rose to 56.3 in May from 55.2 in April. The index had been expected to reach 55.5. Readings above 50 signal expansion. The new orders index increased to 60.5, the highest level since January 2011, from 58.2 in April. The employment index rose to 52.4 in May from 51.3 in April.
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