Better-than-expected growth in the US services sector eases recession fears

The US ISM non-manufacturing index rose from 48.8 to 51.4, above market expectations of 51.0.
New orders jumped from 47.3 to 52.4, while the employment index rose from 46.1 to 51.1, indicating that the sector is back on a growth path.
The activity/output index performed particularly strongly, rising from 49.6 to 54.5, while prices paid increased from 56.3 to 57.0.