Economic activity in the non-manufacturing sector grew in August for the 92nd consecutive month, say the nation's purchasing and supply executives in the latest NonManufacturing ISM Report On Business. The NMI registered 55.3 percent. This represents continued growth in the non-manufacturing sector at a faster rate.

The NonManufacturing Business Activity Index increased to 57.5 percent, 1.6 percentage points higher than the July reading of 55.9 percent, reflecting growth for the 97th consecutive month, at a faster rate in August. The New Orders Index registered 57.1 percent, 2 percentage points higher than the reading of 55.1 percent in July. The Employment Index increased 2.6 percentage points in August to 56.2 percent from the July reading of 53.6 percent.