The Institute for Supply Management reported that the non-manufacturing sector in the United States experienced an increase in new orders in the month of February. The data, updated on March 5, 2024, shows that the index rose to 56.1 from 55 in January 2024. This growth indicates a boost in new orders for services across various industries in the country.
The rise in the ISM Non-Manufacturing New Orders index reflects a positive trend in the service sector, suggesting potential economic expansion and increased demand for services. This improvement could have implications for job growth and overall economic activity in the United States, pointing towards a promising outlook for the country's economy in the coming months.
