Services in U.S. Grow at Second-Fastest Pace in Almost Year
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Service providers from construction firms to retailers expanded in June at the second-fastest pace in almost a year, showing more momentum in the U.S. economy.
The Institute for Supply Management’s non-manufacturing index was 56 last month after May’s 56.3, which was the highest since August, the Tempe, Arizona-based group said today. The median forecast in a Bloomberg survey of economists called for no change from May. Readings greater than 50 signal expansion.