ISM Services Index Unchanged In August

The U.S. economy’s service sector growth in August held at the same level as the previous month, the Institute for Supply Management said Thursday.

The reading held at 55.8, ISM said. The index measures non-manufacturing components of the economy, and figures of more than 50 indicate expansion.

Analysts’ had expected the index to fall to 54.5, Bloomberg reported.

The services sector, which includes transportation, retail sales and financial services, accounts for nearly two-thirds of the U.S. gross domestic product.