US services firms expand at fastest pace on record

Published September 4, 2014 3:01pm ET



WASHINGTON (AP) — U.S. services firms expanded in August at the fastest pace on record.

The Institute for Supply Management said Thursday that its services index rose to 59.6 last month from 58.7 in July. The August figure is the highest recorded since the measure was introduced in January 2008. Fifteen industries reported growth last month. Only mining and arts, entertainment and recreation contracted in August.

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