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Article updated: 12/5/2012 11:53 AM

Growth of U.S. service firms accelerated last month

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U.S. service companies grew at a slightly faster pace in November because sales and new orders rose, a good sign for the economy. The Institute for Supply Management says its index of nonmanufacturing activity rose to 54.7 from 54.2 in October. Any reading above 50 indicates expansion. November's figure is above the 12-month average of 54.4.

Associated Press

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U.S. service companies grew at a slightly faster pace in November because sales and new orders rose, a good sign for the economy. The Institute for Supply Management says its index of non-manufacturing activity rose to 54.7 from 54.2 in October. Any reading above 50 indicates expansion. November's figure is above the 12-month average of 54.4.