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Growth at U.S. Services Cools From a Seven-Month High

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Growth at U.S. service providers cooled in July after reaching a seven-month high, consistent with more measured progress in the economy.

The 55.5 reading in the Institute for Supply Management’s non-manufacturing index followed 56.5 the prior month, the Tempe, Arizona-based group’s report showed Wednesday. Readings above 50 signal expansion. The median forecast of economists surveyed by Bloomberg called for 55.9.