Growth in the Institute for Supply Management’s non-manufacturing index fell in August to 59 percent — down 1.3 percent from July’s reading but measuring its second-highest level since 2005, the ISM said today. Readings above 50 percent indicate expansion. All of the index’s 10 indicators, and 15 of the 18 industries tracked, saw growth in August.
FOMC sees ‘lack of further progress’ in reducing inflation
Citing a “lack of further progress” in recent months in dialing back inflation, the FOMC announced that it will maintain...