Growth at U.S. Service Providers Near Strongest in Decade
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Growth at service industries from retailers to restaurants hovered in August near the strongest in a decade, a sign U.S. demand was buoyant in the face of financial-market turmoil.
While the Institute for Supply Management’s non-manufacturing index eased to 59 from 60.3 the prior month, it was higher than projected and marked the second-highest reading since 2005, the Tempe, Arizona-based group’s report showed Thursday. Figures above 50 signal expansion, and the Bloomberg survey median forecast called for 58.2.