WASHINGTON (AP) — US service firms expanded last month at the fastest pace since February, fueled by a jump in new orders and stronger business activity.
The Institute for Supply Management says its index of service-sector growth rose in July to 56.0. That's up from 52.2 in June. Any reading above 50 indicates expansion.
The increase is a hopeful sign for businesses that employ 90 percent of the workforce. It suggests weak economic growth could rebound in the second half of the year.
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