US Services Activity Expands Most Since 2022 on Demand (Correct)

The US service economy expanded in February at the fastest pace since mid-2022, powered by robust orders growth and business activity.

The Institute for Supply Management’s services index rose 2.3 points to 56.1, the group said Wednesday. Readings above 50 indicate expansion, and the figure exceeded all projections in a Bloomberg survey of economists.

The survey highlighted a broad strengthening in the largest part of the economy prior to the US-Israeli attacks on Iran. Healthier demand helped boost services employment, which saw the firmest growth in a year.

Separate data out Wednesday showed US companies added ...