U.S. August ISM Non-Manufacturing Index Unexpectedly Rises to 59.6

The U.S. non-manufacturing sector unexpectedly gained more momentum in August, according to data released Thursday by the Institute for Supply Management.

The ISM's non-manufacturing purchasing managers index increased to 59.6 in August from 58.7 in July. The August reading is the highest since the revised survey's inception in January 2008.