The U.S. services sector expanded at a slightly faster pace in May as the non-manufacturing business activity composite index was 53.7 in the month, compared to 53.1 in April, on a seasonally adjusted basis, the Institute for Supply Management reported Wednesday.

Economists polled by Thomson Reuters had expected a 53.5 level.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.