Economics
Services in U.S. Expanded More Than Forecast in August
This article is for subscribers only.
Service industries in the U.S. expanded in September by the most in six months, underpinning an economy that lost momentum in the first half of the year.
The Institute for Supply Management’s non-manufacturing index climbed to 55.1, exceeding the most optimistic projection in a Bloomberg survey, from 53.7 in August, figures from the Tempe, Arizona-based group showed today. Readings above 50 signal expansion. ADP Employer Services said in a separate report that private payrolls increased 162,000 last month.