Growth in U.S. service sector activity unexpectedly accelerated in the month of September, according to a report released by the Institute for Supply Management on Wednesday.
The ISM said its non-manufacturing index climbed to 61.6 in September from 58.5 in August, with a reading above 50 indicating growth in the service sector. Economists had expected the index to dip to 58.0.
With the unexpected increase, the ISM said the non-manufacturing index reached its highest level since the inception of the composite index in 2008.
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