Summary Box: Trade group says US service sector expands in May, fifth straight month

By AP
Thursday, June 3, 2010

Summary Box: Service sector grows in May

EXPANSION TREND: The U.S. service sector grew in May for the fifth consecutive month, according to the Institute for Supply Management, a group of purchasing executives.

JOBS RISE: The trade group said its jobs measure increased after 28 months of contraction.

KEY TO ECONOMY: The service sector accounts for about 80 percent of U.S. jobs excluding farmworkers. It includes such areas as health care, retail and financial services. It has lagged behind the much smaller manufacturing sector in the recovery.

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