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Service Sector Expands at Fastest Pace in Year

The services sector expanded at its fastest pace in a year in February, helped by a gain in new orders and as the housing market shows signs of stabilizing.The Institute for Supply Management said its services index rose to 57.3 in February last month from 56.8 in January, in sharp contrast to economists' expectations for a drop to 56.1.It was the index's highest level since February 2011. The services sector accounts for about two-thirds of U.S. economic activity. A reading above 50 i...


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