U.S. services sector activity surges to 11-month high

U.S. services sector activity surges to 11-month high
 

U.S. services sector activity rebounded to an 11-month high in September, an encouraging sign for economic growth that may increase the prospect of a Federal Reserve interest rate hike this year.
The Institute of Supply Management (ISM) said on Wednesday its non-manufacturing activity index surged to a reading of 57.1, the highest level since October 2015. Last month's reading followed a disappointing drop in August.
Economists polled by Reuters had forecast the index rising to 53.0. A reading above 50 indicates expansion in the sector, which accounts for more than two-thirds of U.S.... read more

 
5 October 2016 in Business, Views: 39
Source: Reuters
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