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U.S. Services Sector Shows Surprising Strength in July, Survey Shows

U.S. Services Sector Shows Surprising Strength in July, Survey Shows

The rebound of the U.S. services sector continued with a stronger than expected growth in July, a survey of businesses indicated Wednesday.

Economists have been consistently underestimating the strength of the labor market and the services and manufacturing sectors.

The manufacturing sector also experienced stronger than expected growth in July, according to ISM numbers released Monday, the third consecutive month of growth for the sector.

Retail sales also show signs of strength now that most stores have been given the greenlight to reopen.

Five of the 18 sectors in the survey showed employment growth, including arts and entertainment and health care.

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