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U.S. Service Industries Grew in August by More Than Forecast

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Expansion in U.S. service industries rebounded in August to a faster-than-expected pace, adding to signs economic growth will remain solid in the third quarter, an Institute for Supply Management survey showed Thursday.

The reading on the main index matched the most optimistic analyst forecasts, signaling that demand for services is buoying U.S. companies and the economy. The gain across all four index components -- business activity, new orders, employment and supplier deliveries -- follows another ISM report this week showing the group’s factory gauge advanced to a 14-year high.