Service sector activity "strengthened in August," according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Overall, the service sector revenues index soared to positive 14 in August, from negative 6 in July, while the number of employees index decreased to 1 from 2, the average wage index gained to 13 from 7, and the expected product demand during the next six months index rose to 19 from 11.

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