A report released by the Institute for Supply Management on Wednesday showed an unexpected acceleration in the pace of growth in U.S. services sector activity in the month of July.
The ISM said its services PMI rose to 56.7 in July from 55.3 in June, with a reading above 50 indicating growth in the sector. The uptick came as a surprise to economists, who had expected the index to dip to 53.5.
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