US: ISM Services PMI improves to 56.9 in August vs. 55.5 expected

The business activity in the US service sector expanded at a slightly stronger pace in August than it id in July with the ISM Services PMI rising to 56.9 from 56.7. This reading came in better than the market expectation of 55.5.

Further detail of the publication revealed that the Prices Pair Index declined modestly to 71.5 from 72.3 and the Employment Index recovered to 50.2 from 49.1.

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