Non-manufacturing sectors of the U.S. economy continued to grow in February as various sectors reported more orders and higher inventories and prices.
The Tempe-based Institute for Supply Management said the various sectors that make up the non-manufacturing sector reported growth of 57.3 on a 100-point scale, up from the 56.8 reported in January.
The survey, which includes such industries as real estate, entertainment, transportation, mining, utilities and others, measures several factors in putting together an overall index of where the economy is heading.
February results mark the 26th consecutive month of growth in the non-manufacturing sector.
Most of the sub-sectors the institute tracks, from orders to inventories, were up, showing signs of growth in the economy. While employment in the survey was down slightly, it still indicated growth. Imports, supplier deliveries and new export orders also were down over January, but still in a condition that indicated growth.