Activity in the U.S. service sector unexpectedly grew at a slightly faster pace in the month of September, according to a report released by the Institute for Supply Management on Tuesday.
The ISM said its services PMI inched up to 61.9 in September from 61.7 in August, with a reading above 50 indicating growth in the service sector. Economists had expected the index to edge down to 60.0.
"The slight uptick in the rate of expansion in the month of September continued the current period of strong growth for the services sector," said Anthony Nieves, Chair of the ISM Services Business Survey Committee.
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