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ISM services index rises to 54.6% in May

ISM services index rises to 54.6% in May (by Jeffry Bartash)

WASHINGTON (MarketWatch) -- Growth in the U.S. service sector accelerated slightly in May, according to a survey of senior executives. The Institute for Supply Management on Friday said its services index rose to 54.6% last month from 52.8% in April. Readings over 50% indicate more firms are expanding than contracting. Economists surveyed by MarketWatch expected the services index to register 54.0%.