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UPDATE:The services industry improved marginally in July, new data out of the Institute of Supply Management shows.
The key non-manufacturing index advanced 50 basis points during the month to 52.6.
A reading above 50 indicates expansion.
Business activity and new orders surged in the new report, as food services, retailers, and real estate activities improved. The two sub-indices increased to 57.2 and 54.3, respectively.
However employment contracted for the first time since December 2011, falling to 49.3 from 52.3 a month earlier.
Below, key output from the report.
Minutes away from the final key data point of the week: ISM Services.
Economists polled by Bloomberg forecast the services index will be unchanged from June’s 52.1 reading.
A figure above 50 indicates expansion.
The announcement is expected at 10:00 a.m.