Editor Desk
Oct 5, 20161 min
U.S. services sector activity rebounded to an 11-month high in September, an encouraging sign for economic growth that may increase the prospect of a Federal Reserve interest rate hike this year. The Institute of Supply Management (ISM) said on Wednesday its non-manufacturing activity index surged to a reading of 57.1, the highest level since October 2015. Last month's reading followed a disappointing drop in August. Economists polled by Reuters had forecast the index rising to 53.0.