The index ISM uses to measure non-manufacturing growth—known as the NMI—hit 60.3 in July (a level of 50 or higher indicates growth), representing a 4.3 percent increase over June while economic activity in the non-manufacturing sector showed growth for the 66th month in a row and the overall economy grew for the 72nd straight month. The July NMI is 2.9 percent higher than its 12-month average of 60.3.
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