The following is an excerpt from Kate Gibson | March 5, 2012 | MarketWatch.com |
NEW YORK (MarketWatch) — U.S. stock indexes declined Monday after a gauge of the nation’s services sector climbed in February, but investors found reason for concern in some of its underlying factors.
The Institute for Supply Management’s nonmanufacturing index rose to 57.3% in February from 56.8% in January. Its employment index slipped to 55.7% from 57.4% and its price index, which measures inflation, jumped to 68.4% from 63.5% in the prior month. Read full report on accelerated growth in service sector.
“Inside some of the numbers, you see where the employment index came down a little bit and the inflation index rose a fair amount,” said Paul Nolte, managing director at Dearborn Partners in Chicago.
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