Economic activity in America's non-manufacturing sector grew in May for the 89th consecutive month, according to figures released Monday.
The U.S.Institute of Supply Management's non-manufacturing index reached 56.9 for the month, falling slightly short of expectations. Economists had forecast the index to fall slightly to 57 for the month of May.
ISM's non-manufacturing index last hit 57.5 in April, up from 55.2 in March. This represented continued growth in the non-manufacturing sector at an even faster pace.
The group said 17 non-manufacturing industries reported growth for the month, such as real estate, rental and leasing, construction and utilities.
A reading above 50 on this index indicates expansion in the service sector, and a reading below 50 indicates contraction.
