°®¶¹´«Ã½

The U.S. economy’s service sector expanded in August following two straight months of contraction, the Institute for Supply Management said Thursday.

ISM’s monthly services index rose to a reading of 50.6, from 49.5 in July, the group said. Figures of more than 50 indicate expansion, while below that shows contraction.

The services index measures non-manufacturing components of the economy.

Economists had forecast an unchanged reading 8, Bloomberg reported.

The services sector, which includes transportation, retail sales and financial services, accounts for nearly two-thirds of the U.S. gross domestic product.