Service Industries in U.S. Expanded at Slower Pace in June
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Service industries in the U.S. expanded at a slower pace in June, a sign the economy cooled at the end of the first half of 2011.
The Institute for Supply Management’s index of non-manufacturing businesses decreased to 53.3, less than projected, from 54.6 in May. Economists forecast the gauge would drop to 53.7, according to the median estimate in a Bloomberg News survey. A reading above 50 signals expansion.