US service sector booms in August, hits nine-year high

US service sector booms in August, hits nine-year high: "The pace of growth in the U.S. services sector rose in August to its highest level since 2005, according to an industry report released on Thursday.
The Institute for Supply Management said its services index rose to 59.6 last month from 58.7 in July. The August reading was the highest since August 2005 and topped economists' forecasts for 57.5, according to a Reuters survey.

A reading above 50 indicates expansion in the sector."

'via Blog this'