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Economic activity in the non-manufacturing sector rose in August at a faster pace than July, according to the Institute for Supply Management’s non-manufacturing report on business released today.
The institute’s non-manufacturing index rose to a reading of 53.7 in August from July’s reading of 52.6. Readings above 50 indicate growth.
The employment portion of the index swung over to growth in August, rising to a reading of 53.8 from 49.3 in July.