U.S. Services Industry Grew Less Than Forecast in December
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Service industries in the U.S. expanded less than forecast in December, indicating improvement in the economy will be uneven.
The Institute for Supply Management’s index of non-manufacturing industries, which account for almost 90 percent of the economy, rose to 52.6 last month from 52 in November, the Tempe, Arizona-based group said today. The median forecast of economists surveyed by Bloomberg News called for an increase to 53. Fifty is the dividing line between expansion and contraction.