U.S. Service-Industries Rebound Underpins Third-Quarter Growth
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The expansion in service industries in August indicates the biggest part of the U.S. economy regained its footing after a soft month, a survey from the Institute for Supply Management showed Wednesday.
While the main gauge was slightly below its average for this year, the results show the abrupt slowdown in July was temporary, and underscore sustained demand for services that account for about 90 percent of the economy and span industries such as utilities, retailing, health care, and construction.