Wall Street Journal (02/04/15) Kathleen Madigan

Nonmanufacturing activity held steady in January, but employment slowed, according to the Institute for Supply Management. The ISM’s nonmanufacturing purchasing managers index hit 56.7 in January, up slightly from 56.5 the month before. Experts surveyed by the Wall Street Journal had forecast a reading of 56.1. Readings above 50 signal expansion. The employment index fell to 51.6 in January from 55.7 in December.

Meanwhile, Markit’s purchasing manager’s index increased to 54.2 in January from 53.3 in December, and its new work index slowed to the weakest pace since the survey began in October 2009.