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04.09.2014 16:14:20
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U.S. Service Index Shows Unexpected Increase In August
(RTTNews) - Activity in the U.S. service sector unexpectedly expanded at an accelerated rate in the month of August, according to a report released by the Institute for Supply Management on Thursday.
The ISM said its non-manufacturing index climbed to 59.6 in August from 58.7 in July, with a reading above 50 indicating growth in the service sector.
The modest increase by the non-manufacturing index came as a surprise to economists, who had expected the index to dip to a reading of 57.5.
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