US Services Sector Reached 5-Year High in February

The U.S. services sector grew at a slightly faster pace in February, notching up another more than five-year high, according to an industry report released on Thursday. The Institute for Supply Management said its index of national non-manufacturing activity rose to 59.7 from 59.4 in January. The reading came in just above forecasts for 59.5. A reading below 50 indicates contraction in the sector, while a number above that level means expansion. It was the highest level since August 2005. Economic Juggernaut....Productivity is maxed out. Companies will need to push up wages and higher more to keep up with demand.