U.S. economic activity in the services sector expanded in May, while new orders accelerated, highlighting the sector's continued strength at a time when manufacturing is weakening.
The Services Purchasing Managers' Index (PMI) rose to 53.8% in May after contracting in April, the ISM said in a report Wednesday morning. That's stronger than the 51% average of estimates compiled by Bloomberg.
The services sector's price index fell 1.1 p...