/ Source: The Associated Press
Activity in the non-manufacturing sector rose faster than expected in June, a private research group said Wednesday.
The index of business activity in the non-manufacturing sector stood at 62.2 last month, up from 58.5 in May, according to the Institute for Supply Management. The index was above the 58.9 analysts were expecting. It was the 27th consecutive month of expansion.
A reading above 50 means the services sector of the economy is expanding, while a reading below 50 indicates a contraction.