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Africa Studio/Adobe Stock Economic activity in the services sector continued to grow in February, according to the latest Services ISM Report on Business. The services PMI formerly known as the Non-Manufacturing NMI was 55.3% last month, according to the report. The February number was 3.4 percentage points lower than the January rate of 58.7%. But February’s reading still represents growth in the services sector because any number above 50 indicates expansion. The number represents the ninth straight month of growth after a contraction in the spring because of the Covid crisis. “The composite index indicated growth for the ninth consecutive month after a two-month contraction in April and May,” Anthony Nieves, the Chair of the ISM Services Business Survey Committee, said in a press release. “There was a pullback in the rate of growth in the services sector in February. Respondents are mostly optimistic about business recovery and the economy. Production-cap

United statesAnthony nievesPierre mitchellAnnelizabeth konkelSteve hollisInstitute of procurementResearch officerAssociated pressServices business survey committeeLabor departmentBusiness survey committeeElizabeth konkelIndeed hiring labSpend friendsBill michelsChartered institute