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Services in U.S. Expanded More Than Forecast in August

From bloomberg.com

The Institute for Supply Management’s index of U.S. non-manufacturing businesses, which covers about 90 percent of the economy, rose to 55.1 in September from the prior month’s 53.7, the Tempe, Arizona-based group said today. The median forecast of 77 economists surveyed by Bloomberg projected 53.4. Estimates ranged from 51.5 to 54.7. 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 Oct. 1 data that showed manufacturing expanded in September for the first time in four months. The ISM factory index ... (full story)

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