In this April 26, 2018, photo automotive technician Don Dimond prepares to separate an engine and transmission assembly at a repair shop in Harmony, Pa. On Thursday, Sept. 6, the Institute for Supply Management, a trade group of purchasing managers, issues its index of non-manufacturing activity for August. (AP Photo/Keith Srakocic)

US services firms saw growth quicken in August

September 06, 2018 - 9:29 am

WASHINGTON (AP) — U.S. services companies grew at a faster pace in August as business activity and new orders rebounded.

The Institute for Supply Management says that its services index rose to 58.5 last month from 55.7 in July. Readings above 50 signal an expanding economy.

The services sector, where most Americans are employed, has now grown for 103 straight months, or more than eight years.

The index was boosted by monthly increases in business activity and new orders, both of which had cooled in July. The employment component of the index improved last month.

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