The US services sector returned to growth in May, according to the latest survey of purchasing managers by the Institute for Supply Management (ISM).

The ISM services index came in at 53.8 last month, compared with 49.4 in April, when economists were expecting an index averaging around 51.

In April, the U.S. sector suffered its first contraction after 15 months of uninterrupted growth, falling back below the fateful 50-point threshold, indicating a decline in activity.

The sub-index measuring production in services rose to 61.2 from 50.9, as did employment, which stood at 47.1 after 45.9 the previous month.

The new orders index also improved, rising to 54.1 from 52.2 in April.

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