ISM Services Index Rises for February

March 3, 2006 4:50 PM, EST

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

ISM said its services index, which measures non-manufacturing components of the economy, rose to 60.1, from 56.8 in January.

igures of more than 50 indicate expansion. The February level was greater than analysts' forecasts of a 58 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.