Services Sector Expands for 29th Straight Month

Tempe, AZ, June 5, 2012 — The Institute for Supply Management’s services-sector index increased to 53.7% in May from 53.5% in April.

Economists had expected no change from April.

It was the 29th consecutive monthly gain in the index.

Any reading over 50% indicates that more firms are expanding than contracting.