The U.S. services sector accelerated faster than expected in January, as employment trends improved and demand rebounded, according to survey data released Monday, the Wall Street Journal reported. The Institute for Supply Management’s services-activity index rose to 53.4 in January from 50.5 in December. A reading above the no-change mark of 50 indicates expansion in the services sector, which has grown for the last 13 months, and 43 of the past 44, the ISM said. ISM’s employment index jumped into expansionary territory, at 50.5 from 43.8 in December, while the new orders index ticked up to 55.0 in January from 52.8. The survey’s measure of business activity held on month at 55.8. “The majority of respondents indicate that business is steady,” said Anthony Nieves, chair of the ISM Services Business Survey Committee.
