December ISM services rises but misses forecast

WASHINGTON (MarketWatch)
The Institute for Supply Management's services index rose in December to a reading of 52.6% from November's 52.0%, a reading that nonetheless was below the 53.3% MarketWatch-compiled economist forecast.
Of key subcomponents, production stayed at 56.2%, new orders edged up 0.2 points to 53.2% and employment rose 0.5 points to 49.4%.
Any reading over 50% indicates expansion, and the services gauge has shown growth for 25 straight months, ISM said.