U.S. Non-Manufacturing Index Shows Modest Uptick In January

(RTTNews) - After reporting a notable slowdown in the pace of growth in U.S. service sector activity in the previous month, the Institute for Supply Management released a report on Wednesday showing a modest uptick by its index of activity in the sector in January.

The ISM said its non-manufacturing index inched up to 56.7 in January from an upwardly revised 56.5 in December, with a reading above 50 indicating growth in the service sector.

Economists had expected the non-manufacturing index to edge up to 56.5 from the 56.2 originally reported for the previous month.