(Finance) – The US tertiary sector drops slightly, but remains in expansionary territory.
According to the survey conducted by theInstitute for Supply Management among purchasing managers of service firms, the ISM non-manufacturing dropped to 55.1 points in February from 55.2 points the previous month, outperforming market expectations which were for a drop to 54.5 points .
It should be remembered that an index below 50 denotes a phase of contraction in business and a prevalence of pessimism among company purchasing managers.
Looking at the individual components, the one onbusiness activity fell to 56.3 points from 60.4 the previous month and the one on orders it stood at 62.6 points from 60.4 points. that ofoccupation moved to 54 points from 50, while the pricing component it stood at 65.6 points from 67.8.