ISM Services Index Improves in September

An index of the U.S. economy’s service sector improved in September, the Institute for Supply Management said Wednesday.

ISM’s monthly services index rose to a reading of 55.1, from 53.7 in August. Figures greater than 50 indicate expansion.

Economists had predicted the index would drop to 53.4, Bloomberg reported.

The index averaged 56.1 in the five years prior to the recession that began with December 2007.

ISM’s services index measures nonmanufacturing components of the economy and the services sector — which includes transportation, retail sales and financial services and accounts for nearly two-thirds of the U.S. gross domestic product.

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TransCore services to integrate PC*Miler's mileage, routing solutions

PORTLAND, Ore. -- TransCore’s DAT load boards, Truckload Rate Index, and other services will now incorporate PC*Miler by ALK Technologies as the primary mileage, routing and mapping solution. The integrated product is already available to DAT customers, according to a joint announcement today by the two companies.

“As the industry leader for trucking load boards and rate benchmarking tools, DAT is pleased to partner with ALK, the leader in mileage and routing software,” said David Schrader, senior vice-president of operations at TransCore DAT. “Our customers will now benefit by having the most popular mileage solution in the industry tightly integrated into all our load board and Truckload Rate Index products.”

“We are pleased to have this opportunity to add value to DAT load boards and Truckload Rate Index,” said Craig Fiander, vice-president of marketing, North America, for ALK’s Enterprise Solutions. “Both of our companies are the market leaders and known for exceptional quality and service. The integration of PC*Miler Web services is an excellent fit for our mutual customers who are automatically provided with the most up-to-date directions and mileage.”

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ISM Services Index Declines

An index of the U.S. economy’s service sector declined in June to the slowest pace in almost a year and a half, the Institute for Supply Management said Thursday.

ISM’s monthly services index rose to a reading of 52.1, from 53.7, in May. Figures greater than 50 indicate expansion.

Economists had forecast the index would slip to 53, Bloomberg reported.

The index averaged 56.1 in the five years prior to the recession that began December 2007.

ISM’s services index measures non-manufacturing components of the economy, and the services sector, which includes transportation, retail sales and financial services, accounts for nearly two-thirds of the U.S. gross domestic product.

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COMPETITION WATCH: TransForce acquires I.E. Miller Services

MONTREAL, Que. -- TransForce has reached an agreement to acquire all the shares of I.E. Miller Services, a provider of rig relocation services, including disassembly, transportation and reassembly of oil and gas drilling rigs.

Founded in 1936, I.E. Miller is a subsidiary of Complete Production Services. It operates eight terminals in Texas, Louisiana, Oklahoma, Colorado, and North Dakota.

With about 400 employees, I.E. Miller specializes in mostly high-end, high horsepower rig movements. It also services a base of leading oil and gas producers as well as drilling companies. The transaction will add annual revenues of approximately US$138 million. The transaction is expected to close in the fourth quarter.

"This latest transaction is an excellent strategic fit for TransForce and underlines our disciplined and selective approach to acquisitions," said Alain Bédard, chairman, president and CEO of TransForce. "Their established national US footprint creates significant opportunities to provide high value-added rig relocation services to new and existing customers. In addition, the transaction further allows the reinforcement of our oilfield services management team and presence in the energy services sector."

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ISM Services Index Shows Continued Expansion

An index of the U.S. economy’s service sector declined slightly in October but still showed expansion, the Institute for Supply Management said Thursday.

ISM’s monthly services index was little changed at 52.9, after a reading of 53 in September, ISM said in its monthly report. Figures greater than 50 indicate expansion.

Economists had forecast the index would rise to 53.5, Bloomberg reported.

The index averaged 56.1 in the five years prior to the recession that began December 2007.

ISM’s services index measures non-manufacturing components of the economy, and the services sector, which includes transportation, retail sales and financial services, accounts for nearly two-thirds of the U.S. gross domestic product.

View the original article here