U.S. services sector activity accelerated to a one-year high in February, suggesting underlying strength in the economy despite the coronavirus outbreak, which has triggered financial market fears of a recession and led to an emergency interest rate cut from the Federal Reserve.
The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing activity index increased to a reading of 57.3 last month, the highest level since February 2019, from 55.5 in January.
