MW: U.S. April ISM nonmanufacturing rises to 43.7%
U.S. service-producing industries contracted again in April for the seventh straight month, but at a slower pace than in March, according to the Institute for Supply Management index released Tuesday. The ISM non-manufacturing index improved to 43.7% from 40.8% in March. Economists were looking for an increase to 42.0%. Readings under 50% indicate most firms surveyed said business was getting worse in April. Seven of 18 industries were growing in April. The new orders index improved to 47.0% from 38.8%. Employment improved to 37% from 32.3%.
