US services are gathering pace

FIRMS in the US services sectors are recording the strongest growth since summer, throwing off fears that slow growth early this year was caused by more than bad weather.

The Institute for Supply Management’s latest purchasing managers’ index (PMI) for non-manufacturing companies came in at 55.2 in April, the best since August. Markit’s PMI for the services sector was also stronger than expected at 55. Any figure over 50 indicates growth.