US services accelerate

US services activity unexpectedly accelerated in August, the Institute for Supply Management’s non-manufacturing index increasing to 53.3 from 52.7 in July. The new orders index also increased to 52.8 from 51.7 the prior month.

Despite this increase, the JPMorgan Global All-Industry Output Index fell to 51.5 in August from 52.5 in July.

JPMorgan Global All-Industry Indices
	June	July	August
Output	52.3	52.5	51.5
New orders	52.0	51.1	50.8
Input prices	58.6	56.3	57.9
Employment	52.5	51.2	50.9