US service sector expands for first time in 2020 on improved consumer spending, IHS Markit says

IHS Markit's Composite Purchasing Managers' Output Index gained to 54.7 in August from 50.3, marking an 18-month high amid steady economic recovery.
The firm's services gauge improved to 54.8 from 50. The reading is the first this year to show the sector in growth territory.
Both manufacturers and service providers benefited from increased consumer demand as lockdowns were lifted, IHS said.
The service sector's return to growth "was welcome news following five months of declines," Siân Jon