According to a report of the Institute for Supply Management (ISM), the service sector of the United States economy has sped up in the previous month even there was harsh weather in the east and slowdown of West Coast port.

As per the Wednesday report of the institute, the ISM purchasing managers index increased to about 56.9. A month before, it was 56.7, as per the report. The increase is about three points better than a year ago, but slower than the level of November. That time, it was 58.8, the institute stated. Figure above 50 is considered as an expansion in the sector.

Institute for Supply Management (ISM), which is the first supply management institute in the world, stated, "While overall non-manufacturing activity was better, including pick-ups in prices and hiring, new orders and overall business activity grew more slowly than the previous month".

According to respondents to the report by ISM, a decline in fuel prices has helped their businesses to grow. Some of the respondents think that the sharp slowdown in cargo processing at ports along the West Coast has affected the businesses. According to them, because of an agreement between management and unions, their businesses have been suffering loss.

Earlier on February 21, unions and management reached an agreement and the port workers were back to work the next day. According to ISM, despite the port slowdown, most of the supply managers were positive about the direction of the economy.

The report stated that the service sector's pick up will encourage companies that make up the biggest part of the US economy. As per a respondent from the retail trade, sales will continue to be solid which could align with fuel costs.