May 3, 2007 10:10 AM, EDT

ISM Services Index Gains

The Institute for Supply Management’s services index rose to 56 in April from 52.4 in March, ISM said Thursday.

The index measures non-manufacturing components of the economy and figures of more than 50 indicate expansion.

Analysts had forecast the index to rise to 53, Bloomberg reported.

The services sector, which includes transportation, retail sales and financial services, accounts for nearly two-thirds of the U.S. gross domestic product.