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    U.S. data continues to surprise

    The pace of growth in the U.S. economy’s service sector increased in June by the fastest pace in seven months, according to an industry report released on Wednesday.

    The Institute for Supply Management ( said its index of non-manufacturing activity rose to 56.5 from 52.9 the month before. The reading was above expectations of 53.3 from a Bloomberg poll of economists and was the highest reading since November.

    The business activity index rose to 59.5 from 55.1 the month before. That was just above expectations of 55.5. The employment index rose to 52.7 from 49.7 a month earlier. New orders climbed to 59.9 from 54.2. The prices paid index fell to 55.5 from 55.6.

    The pace of growth in the U.S. economy’s manufacturing sector increased in June, according to an earlier ISM report.

    Any person acting on this information does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.

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