Growth in the U.S. services sector rose in December, although employment declined slightly, according to a private survey published Wednesday.
The Institute for Supply Management’s index of business at non-manufacturing companies rose to 63.1 in December from 61.3 in November, above Wall Street median estimates of 61.0. A number above 50 indicates growth in the sector, which accounts for nearly 80 percent of the U.S. economy.
The ISM survey’s employment index slid a bit to 54.9 in December from 55.0, while the measure of new orders rose to 60.3 from 59.9. The prices paid index rose to 71.4 from 71.0.