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September 4, 2015

Service firms expand rapidly on strong sales

By CHRISTOPHER S. RUGABER
AP Economics Writer

WASHINGTON — U.S. services companies expanded at a healthy pace in August, lifted by robust consumer spending resulting from steady job gains.

The Institute for Supply Management said Thursday that its services index slipped to 59 from 60.3 in the previous month. July's reading was the highest since August 2005, and any reading over 50 indicates expansion.


 
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