US services sector heats up in June

The massive US services sector picked up pace in June to the strongest growth in seven months, according to a private monthly survey published Wednesday. The Institute for Supply Management said its purchasing managers index for the non-manufacturing sector rose to 56.5 in June from the May reading of 52.9. "Respondents' comments are mostly positive about business conditions and the economy," said Anthony Nieves, chair of the ISM survey committee for the sector.