The Institute for Supply Management said its services index slipped less-than-expected in August.
The service index fell from 60.3% to 59% last month, remaining above the
58% analysts had expected and comfortably above the 50% threshold that
indicates improving conditions in the market.
"On balance, we read the better-than-expected ISM nonmanufacturing
survey in August as indicative of continued service sector strength in
the third quarter, " analysts at Barclays said in a note.