U.S. services sector expands at faster pace in May: Markit

The U.S. services sector expanded in May at its fastest rate since March 2012 as employment creation accelerated, an industry report showed on Tuesday. Financial data firm Markit said its "flash" services Purchasing Managers Index hit 58.4 in May compared with April's final reading of 55.0. The services sector added employees at the fastest rate since January, with the employment subindex at 53.1, up from 51.2 last month. New business growth for the services sector was at its fastest since February 2011.

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