Service sector activity across the U.S. accelerated in September, signaling positive momentum in the sector powering the bulk of the U.S. labor market.
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The Institute for Supply Management on Wednesday said its index of nonmanufacturing activity -- tracking industries including health care, finance, agriculture and construction -- rose to 59.8 in September from 55.3 in August. This marks the highest reading since August 2005 when the index registered 61.3.
Economists surveyed by The Wall Street Journal had expected a September reading of 55.2. A number above 50 indicates expansion.
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(END) Dow Jones Newswires
October 04, 2017 10:31 ET (14:31 GMT)