WASHINGTON, Feb. 5 (Xinhua) -- The U.S. non-manufacturing sector expanded for the 120th consecutive month in January, the Institute for Supply Management (ISM), a non-profit U.S. supply management organization, reported on Wednesday.
The ISM's statistic index on non-manufacturing businesses, commonly known as NMI, registered 55.5 percent in January, 0.6 percentage point higher than the previous month's reading of 54.9 percent.
"This represents continued growth in the non-manufacturing sector, at a slightly faster rate," said Anthony Nieves, chair of the ISM's Non-Manufacturing Business Survey Committee.
According to the report, 12 non-manufacturing industries reported an increase in prices, while six industries experienced a decrease in business activities.
The agriculture industry topped the 12 industries reporting growth in January, while transportation and warehousing were atop the six industries that decreased last month.
"The non-manufacturing sector exhibited continued growth in January. The respondents remain mostly positive about business conditions and the overall economy," said Nieves.
Founded in 1915, ISM has over 50,000 members in 100 countries.
The ISM's statistic index on non-manufacturing businesses, commonly known as NMI, registered 55.5 percent in January, 0.6 percentage point higher than the previous month's reading of 54.9 percent.
"This represents continued growth in the non-manufacturing sector, at a slightly faster rate," said Anthony Nieves, chair of the ISM's Non-Manufacturing Business Survey Committee.
According to the report, 12 non-manufacturing industries reported an increase in prices, while six industries experienced a decrease in business activities.
The agriculture industry topped the 12 industries reporting growth in January, while transportation and warehousing were atop the six industries that decreased last month.
"The non-manufacturing sector exhibited continued growth in January. The respondents remain mostly positive about business conditions and the overall economy," said Nieves.
Founded in 1915, ISM has over 50,000 members in 100 countries.
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