RTTNews - Activity in the service sector continued to contract in August, according to a report released by the Institute for Supply Management on Thursday, although the index of activity in the sector increased by a little more than economists had been expecting.

The ISM said its index of activity in the service sector rose to 48.4 in August from 46.4 in July, with a reading below 50 indicating a contraction in the sector. Economists had been expecting a slightly lower reading of 48.0.

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