Economics
U.S. Service Industries' Expansion Helps Economic Rebound
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A faster-than-forecast June pace of expansion at America’s service industries, which make up the bulk of the economy, signals solid second-quarter growth, a survey from the Institute for Supply Management showed Thursday.
A steady job market, healthier consumer finances and low borrowing costs are driving better demand for services, which account for about 90 percent of the economy and span industries such as utilities, retailing, health care and construction.