US service sector expands for first time in 2020 on improved consumer spending, IHS Markit says

US service sector expands for first time in 2020 on improved consumer spending, IHS Markit says

Business Insider

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· IHS Markit's Composite Purchasing Managers' Output Index gained to 54.7 in August from 50.3, marking an 18-month high amid steady economic recovery.
· The firm's services gauge improved to 54.8 from 50. The reading is the first this year to show the sector in growth territory.
· Both manufacturers and service providers...

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