Service industries expanded in September by the most in six months, underpinning an economy that lost momentum in the first half of the year.
The Institute for Supply Management’s nonmanufacturing index climbed to 55.1, exceeding the most optimistic projection in a Bloomberg survey, from 53.7 in August, figures from the Tempe, Ariz.-based group showed Wednesday. Readings above 50 signal expansion. ADP Employer Services said in a separate report that private payrolls increased 162,000 last month.
