India, Sept. 3 -- Service sector growth in the U.S. accelerated more than expected in the month of August, the Institute for Supply Management revealed in a report released on Thursday.
The ISM said its services PMI rose to 55.4 in August from 54.1 in July, with a reading above 50 indicating growth. Economists had expected the index to inch up to 54.3.
With the bigger than expected increase, the services PMI reached its highest level since hitting 56.1 in February.
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