(CercleFinance.com) – Against all expectations, growth in the tertiary sector accelerated in the United States in August, show the results of the latest monthly survey by the Institute for Supply Management (ISM) released on Tuesday.
This index from an ISM survey of purchasing managers rose 0.2 points to 56.9 last month, even as economists predicted a decline to 55.4.
This figure indicates that activity in the services sector has increased for the 27th consecutive time.
According to the ISM, last month’s acceleration was notably due to an improvement in supply chains, logistics networks and cost developments.
Released earlier, the rival PMI index compiled by S&P Global fell from 47.3 to 43.7 month-on-month.
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