US service sector index jumps

By AFP

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

US services firms grew at the fastest rate in more than eight years in July, the latest sign of an economy picking up speed in the second half of the year.

A measure of sales soared to its highest level in more than three years, and a gauge of new orders jumped to its highest reading in nearly eight years.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

Manufacturing expanded at the fastest pace in nearly three years in July, according to a separate ISM report released Friday.

Read more here: Business Spectator

    

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