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U.S. Service Sector Expansion Fastest Since Recession

Wall Street Journal (08/05/15) Jeffrey Sparshott

The U.S. service sector in July grew at the greatest pace since the recession, according to the Institute for Supply Management. The ISM’s nonmanufacturing purchasing managers index climbed to 60.3 in July from 56.0 in June, the highest level since the composite index was launched in January 2008.

Key components of the index, which were tracked as far back as the 1990s, reached their highest levels in 10 years. New orders rose to 63.8 from 58.3 in June, and employment climbed to 59.6 from 52.7.