Economics
Services Slowdown Signals U.S. Growth May Cool: Economy
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Service industries in the U.S. expanded less than projected and consumer confidence weakened, signaling the world’s largest economy may be cooling.
The Institute for Supply Management said today its non-manufacturing index fell to a four-month low of 53.5 in April from 56 in March. The median forecast of economists surveyed by Bloomberg News was 55.3. A reading above 50 in the Tempe, Arizona-based group’s gauge signals expansion. The Bloomberg Consumer Comfort Index fell to a two-month low last week.