Growth in U.S. service sector activity accelerated by much more than anticipated in the month of July, according to a report released by the Institute for Supply Management on Wednesday.
The ISM said its services PMI jumped to an all-time high of 64.1 in July after pulling back to 60.1 in June, with a reading above 50 indicating growth in the sector. Economists had expected the index to inch up to 60.4.
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