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AP National Business

September expansion is 16th straight for US service sector

KTVZ
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Published 7:52 am

By MATT OTT
AP Business Writer

SILVER SPRING, Md. (AP) — The U.S. services sector, where most Americans work, grew again in September even as supply chain troubles persisted. The Institute for Supply Management reported Tuesday that its monthly survey of service industries rose to a reading of 61.9, following August’s reading of 61.7. The gauge hit a record high of 64.1 in July. Any reading above 50 indicates growth in service industries. The services index has shown growth for the past 16 months after two months of contraction in April and May of 2020 when the coronavirus triggered widespread shutdowns and millions of job losses.

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