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Service Industries in U.S. Expanded at Faster Pace in July

Service industries in the U.S. expanded in July at a faster pace than a month earlier, helped by a pickup in orders.

The Institute for Supply Management’s non-manufacturing index rose to 52.6, from 52.1 in June, the Tempe, Arizona-based group said today. The median forecast of 73 economists surveyed by Bloomberg called for no change from June. A reading above 50 signals expansion.