ISM Services Index Rises in April

he U.S. economy’s service sector growth rose last month, the Institute for Supply Management said Wednesday.

ISM’s services index, which measures non-manufacturing components of the economy, rose to a 63 reading from 60.5 in March, the group said. Figures of more than 50 indicate expansion.

The level was greater than analysts’ predictions of a drop to a 59.4 reading, 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.