New Orders Boost Service Sector in December

Thanks to a boost in new orders, CNBC reports that the U.S. service sector grew at its fastest rate in 10 months in December.

CNBC cites statistics from the Institute for Supply Management stating that its service index rose to 56.1 in December from 54.7 in November. This reading was the highest since February 2012, CNBC said.

Per CNBC:

"New orders rose for a second straight month, with the sub-index hitting a 10-month high of 59.3 in December after 58.1 the prior month. The employment index jumped to 56.3, the highest since March. It stood at 50.3 in November."