The Institute for Supply Management’s index of U.S. non-manufacturing businesses, which covers about 90 percent of the economy, rose to 53.7 in August from the prior month’s 52.6, the Tempe, Arizona-based group said today. The median forecast of 76 economists surveyed by Bloomberg projected 52.5. Estimates ranged from 51 to 53.5. Readings above 50 signal expansion. The ISM services survey covers industries ranging from utilities and retailing to housing, health care and finance. The figures follow Sept. 4 data that showed manufacturing shrank for a third straight month in August as the global economy weakened. The ... (full story)