By Scott Kanowsky
Investing.com -- The U.S. services sector unexpectedly saw activity accelerate in August, according to the latest survey from the Institute for Supply Management, in a sign that consumer demand remains resilient despite concerns over a broader economic slowdown.
The ISM non-manufacturing purchasing managers index rose to 56.9 during the period, up marginally from 56.7 in July. Economists had expected the reading to dip to 55.1.
A level above 50 indicates expansion in the sector.
Tuesday's release comes after the ISM's closely watched monthly manufacturing survey held steady at 52.8, also above forecasts, suggesting that that industry is in fairly robust health as well.