Economic Buzz: US ISM services sector activity grows in August

Growth in activity in the United States services industry accelerated in August, the Institute for Supply Management (ISM) reported on Thursday. ISM Services Purchasing Managers' Index (PMI) stood at 55.4% in August, going up by 1.3 percentage points in comparison to the month before.

The Business Activity Index rose by 2.6 percentage points to land at 61.7%, while the reading for the New Orders Index expanded by 3.7 percentage points to reach 60.9%. The Supplier Deliveries Index contracted by 1.5 percentage points to 51.3%.

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