The U.S. service sector gained momentum last month, as sales climbed and companies boosted hiring.
The Institute for Supply Management said Wednesday its index of nonmanufacturing activity rose to 55.3 in August from 53.9 in July. A reading above 50 indicates growing activity, as measured by factors such as sales, hiring and production.
Economists surveyed by The Wall Street Journal had expected a reading of 55.3.
Source: Dow Jones