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According to an industry report released on Thursday, the pace of growth in the U.S. services sector rose in August to its highest level since 2005. The Institute for Supply Management said its services index rose to 59.6 last month from 58.7 in July. According to a Reuters survey, the August reading was the highest since March 2005 and topped economists’ forecasts for 57.5. The employment index also rose, hitting 57.1 in August, the highest since February 2006, compared with 56.0 in July.

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