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Dallas Fed Services Index Indicates Faster Expansion

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The Dallas Federal Reserve's monthly general business services index rose to a reading of 6.6 in July from 2.9 in June, well above expectations for a 3.8 reading in a survey compiled by Bloomberg as of 7:40 am ET, indicating faster expansion.

The reading for selling prices increased, but the readings for revenue, employment and input prices decreased.

This is the final regional services reading for the month, most of which have indicated expansion, except the Richmond Fed measure which pointed to contraction.

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