Investing.com - Service sector activity in the U.S. grew in line with expectations in January, expanding for the 37th consecutive month, industry data showed on Tuesday.
In a report, the Institute of Supply Management said its non-manufacturing purchasing manager's index fell to 55.2 in January from a reading of 55.7 in December.
Analysts had expected the index to decline to 55.2 last month.
On the index, a reading above 50.0 indicates the non-manufacturing sector economy is generally expanding, below 50.0 indicates the sector is contracting.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD adding 0.18% to trade at 1.3538.
Meanwhile, U.S. stock markets remained higher. The Dow Jones Industrial Average rose 0.8%, the S&P 500 index gained 0.8%, while the Nasdaq Composite index tacked on 0.65%.
In a report, the Institute of Supply Management said its non-manufacturing purchasing manager's index fell to 55.2 in January from a reading of 55.7 in December.
Analysts had expected the index to decline to 55.2 last month.
On the index, a reading above 50.0 indicates the non-manufacturing sector economy is generally expanding, below 50.0 indicates the sector is contracting.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD adding 0.18% to trade at 1.3538.
Meanwhile, U.S. stock markets remained higher. The Dow Jones Industrial Average rose 0.8%, the S&P 500 index gained 0.8%, while the Nasdaq Composite index tacked on 0.65%.